GBP futures: bearish note prevails

Pablo Piovano FXStreet

CME Group’s advanced data for GBP futures markets noted investors added almost 5.5K contracts to their open interest positions on Thursday vs. Friday’s 210,179 contracts. Volume followed suit, this time up by around 19.5K contracts, recording the third build in a row.

GBP/USD eyes on 1.3000 and below

Cable dropped for yet another session on Thursday amidst increasing volume and open interest, leaving the door open for the continuation of the down move which should find initial support in the 1.3000 neighbourhood. This area is reinforced by the 55-day SMA at 1.2994.

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.