GBP futures: bottomed out?

In light of advanced figures for GBP futures markets, open interest decreased by almost 5K contracts on Friday vs. Thursday’s 209,855 contracts. In the same line, volume dropped by more than 44K contracts.

GBP/USD potential U-turn

Cable’s recent price action appears to have found support in the sub-1.3800 area recorded on Friday. The down move in prices has been accompanied by declining open interest and volume, all hinting at the likeliness of a potential squeeze higher in the near term.