In light of advanced data for GBP futures markets released by CME Group, open interest rose by around 2.3K contracts on Friday from Thursday’s 194,854 contracts. Volume, instead, decreased for the first time after three consecutive builds, this time by more than 15.3K contracts
GBP/USD still has 1.4345 on the cards
Cable’s rally remains unabated so far this week, looking to clinch its seventh session with gains so far today. The up move has been on the back of a healthy uptick in open interest, although the latest drop in volume could decelerate the pace of the bull run. The broader constructive scenario, however, should stay unchanged in the near term.
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