One-month risk reversal of GBP/USD, a gauge of calls to puts, drops the most in May, based on the weekly basis, by the end of Tuesday trading, per the latest data from Reuters.
This goes hand-in-hand with the cable pair’s recently sluggish performance around the multi-day top. That said, GBP/USD remains pressured around 1.2150 by the press time of Wednesday’s Asian session.
Risk reversal flashes 0.050 figures for the week ending on May 28, suggesting the sellers are gradually firming up controls after two weeks of positive prints.
Technically, GBP/USD seems constrained between 1.4100 and 1.4220 levels amid mixed markets.
Read: GBP/USD bears stepping up to the plate below counter trendline
This article was originally published by Fxstreet.com. Read the original article here.