GBP Futures: scope for a squeeze higher

Pablo Piovano FXStreet

CME Group’s preliminary readings for GBP futures markets noted open interest reversed the previous drop and rose by around 5.1K contracts on Thursday. In the same line, volume ticked higher by nearly 28.9K contracts.

GBP/USD could reach 1.22 and beyond

Cable’s daily upside on Thursday was on the back of rising open interest and volume, opening the door for a potential move higher in the near term. That said, monthly peaks above 1.22 the figure and the 21-day SMA at 1.2214 have now emerged on the horizon.

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 fades below 1.1900 amid sudden USD demand

EUR/USD has quickly reversed modest intraday gains on Thursday, struggling to retain the 1.1850. The Greenback benefits from both, risk aversion, and market rumours suggesting Russia is analyising returning to the US Dollar system.

GBP/USD change course, nears 1.3600

GBP/USD trimmed most of its intraday gains and approaches the 1.3600 threshold. Tepid United Kingdom data released earlier in the day adds to Sterling Pound retracement, as the flash estimate of the Q4 Gross Domestic Product posted a modest 0.1% advance in the three months to December.