GBP/USD options market shows weakest bearish bias in 4 months

According to Reuters' data, one-month risk reversal on GBP/USD, a gauge of calls to puts, has risen to -0.75 to hit the highest level since Sept. 4. 

The metric, which measures the price of calls relative to puts, bottomed out at -4.04 on Dec. 11 and has been rising ever since. It indicates a weakening of demand for GBP puts or bearish bets. 

GBP/USD is currently trading near 1.3586, having reached a 32-month high of 1.3704 earlier this week.