Open interest in GBP futures markets dropped by around 3.2K contracts on Friday according to preliminary data from CME Group. Volume followed suit and shrunk by nearly 29K contracts.

GBP/USD faces strong hurdle around 1.23

Cable appears to have found a tough resistance in recent tops around the 1.2300 handle. Declining open interest and volume should remove tailwinds from extra upside in the near term, leaving Friday’s tops near 1.2300 as an interim hurdle.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

Euro rolling into the Asian session below the 1.1050 level

The shared currency, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DSMAs). The Euro has been in a trading range over the last two weeks as the market participants are waiting for a catalyst.

EUR/USD News

GBP/USD: 3-week-old resistance-line questions 100-DMA breakout

Successful trading beyond 100-day simple moving average (DMA) fails to lend much strength to the GBP/USD pair as it struggles around 1.2520 during Friday morning.

GBP/USD News

USD/JPY stays in negative territory near 108 despite rising US stocks

The USD/JPY pair rose to its highest level since early August at 108.48 during the American trading hours on Wednesday after the Federal Reserve refrained from giving any hints regarding the next policy move despite announcing a 25 basis points rate cut.

USD/JPY News

Gold consolidating at technical levels awaiting next catalyst

Precious metals were higher on Thursday. Gold prices climbed from $1,489.13 to $1,504.60. The gold ratio travelled between 83.87 and 84.66 with a bullish bias as the yellow metal surges on. 

Gold News

The Federal Reserve Keeps its Options Open

The Federal Reserve’s two rate cuts in as many months have satisfied market expectations for action and will give the governors time to determine if a full reduction cycle is warranted.

Read more

Forex MAJORS

Cryptocurrencies

Signatures