Open interest in GBP futures markets shrunk by nearly 2.7K contracts at the end of last week according to flash data from CME Group. Volume, instead, reversed two consecutive drops and increased by almost 7.5K contracts.
GBP/USD faces extra consolidation
Cable’s uptick on Friday was accompanied by d
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Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, cannot assure if the cable is marking a top or not. Failure at the 55 day ma has moved to the downside.
“Having failed at the 55 day moving average at 1.3055 and the short term downtrend at 1.3075, the risk has shift
GBP/USD registers first daily close under the 100-day MA since October.
Chances of disorderly UK exit from the EU are rising.
Risk reversals are reporting bearish bias with a negative print.
A big beat on the UK PMI is needed to weaken bearish pressures.
GBP/USD closed below the 100-day moving
CME Group’s advanced readings for GBP futures markets showed investors added around 1.2K contracts to their open interest positions on Wednesday, resuming the uptrend after Friday’s drop. In the same line, volume reversed the previous pullback and increased by around 52.2K contracts.
GBP/USD looks c
GBP/USD fails to register noticeable moves following a Tuesday’s Doji candlestick.
Short-term moves are confined between 50 and 100-day SMA, 61.8% Fibonacci retracement offers immediate resistance.
The monthly bottom can please sellers below 100-day SMA.
GBP/USD remains a little changed below 1.300