GBP futures: consolidation likely near term

Pablo Piovano FXStreet

Preliminary data for GBP futures markets from CME Group noted open interest dropped by almost 4.5K contracts on Monday vs. Friday’s 202,823 contracts. Volume followed suit, down sharply by around 103.6K contracts.

GBP/USD faces downside risks longer run

Cable has quickly shrugged off the hawkish tweak from the BoE at last week’s meeting, although it seems to have found some moderate support in the sub-1.3800 zone. Shrinking volume and open interest render any bullish attempts as tepid, while the prospects of extra gains appear capped by the spike post-BoE around 1.4070.

Author

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 stays well offered below 1.1800

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GBP/USD reaches multi-day lows near 1.3500

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Bitcoin has found or is near a bottom, extended consolidation to follow: K33

Bitcoin (BTC) is nearing or has already established a bottom, which could be followed by a sustained period of slow price movement, according to K33.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

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