GBP Futures: extra gains not ruled out

Pablo Piovano FXStreet

Open interest in GBP futures markets rose by a marginal 311 contracts on Tuesday, reversing three consecutive daily pullbacks. Volume, instead, extended the choppy performance and shrunk by nearly 15.2K contracts.

GBP/USD eyes the 21-day SMA near 1.3080

Cable is prolonging the positive start of the week amidst rising open interest and the surpass of the key 1.30 mark. Against this backdrop, a move to the 1.3080 region – where sits the 21-day SMA – would not be surprising in the near-term. The persistent drop in volume could intially spark some consolidation arund current levels.

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 trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.