GBP futures: room for further decline

Pablo Piovano FXStreet

In light of advanced data for GBP futures markets from CME Group, open interest increased by almost 6.2K contracts on Thursday vs. Wednesday’s final 229,201 contracts. On the other hand, volume dropped by nearly 2.2K contracts.

GBP/USD now looks to 1.2591

Cable’s down move has now intensified after breaking below the 1.2800 key support, allowing for a potential visit to June’s 2017 low in the 1.2590 region following yesterday’s build in open interest and the marginal move in volume.

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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 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.