GBP futures: green light for extra gains

Pablo Piovano FXStreet

In light of advanced data from CME Group, traders added nearly 400 contracts to their open interest positions on Thursday from Wednesday’s 182,812 contracts. In addition, volume ticked higher by 85,180 contracts, reverting the previous sharp decline.

GBP/USD now targets 1.3350

Cable has been advancing since Monday, gaining around 3 cents since Friday’s lows in the 1.3030 region amidst renewed USD weakness and mixed signals from the ongoing Brexit negotiations.

The up move has been accompanied by rising open interest while volume increased significantly, reinforcing the idea that further upside could be in the pipeline.

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 looks sidelined around 1.1850

EUR/USD remains on the back foot, extending its bearish tone and sliding towards the 1.1850 area to print fresh daily lows on Monday. The move lower comes as the US Dollar gathers modest traction, with thin liquidity and subdued volatility amplifying price swings amid the US market holiday.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

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Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

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