GBP futures: scope for extra gains

Pablo Piovano FXStreet

Open interest in GBP futures markets increased by around 6.6K contracts on Tuesday vs. Friday’s final 196,489 contracts, according to advanced figures from CME Group. Volume followed suit and clinched the second build in a row, this time by around 83.1K contracts.

GBP/USD now looks to 1.3200

Cable’s rally remains well and sound amidst rising open interest and volume. The up move could pick up further pace in the near term, with the next hurdle aligning at YTD highs just beyond 1.3200 the figure.

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 makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

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