CME Group’s flash data for GBP futures markets noted open interest increased for the second session in a row on Wednesday, now by just 364 contracts. Volume, instead, decreased by around 88.6K contracts following two consecutive builds.
GBP/USD: a test of 1.2300 and above is not ruled out
Cable strong rebound on Wednesday was accompanied not only by positive Brexit headlines but also by another build in open interest. Despite the drop in volume was significant, further upside to the area of recent tops beyond 1.23 the figure should remain on the table for the time being.
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