GBP Futures: upside seen losing traction

Pablo Piovano FXStreet

CME Group’s preliminary data for GBP futures markets noted open interest shrunk by almost 35K contracts on Wednesday, reversing five consecutive daily builds. Volume, instead, increased by nearly 16.1K contracts, clinching the second consecutive build.

GBP/USD now targets 1.2750, where it could fail

Cable is extending the weekly up move and is now looking to break above the 1.2700 handle and advance to monthly tops in the mid-1.2700s, where it could lose impulse. The sharp drop in open interest reinforces this view, while rising volume could add some upside momentum.

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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 recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

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Bitcoin consolidates as on-chain data show mixed signals

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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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