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GBP Futures: Scope for further downside

Open interest in GBP futures markets rose by nearly 15.5K contracts on Wednesday according to flash data from CME Group. In the same line, volume advanced by around 11.9K contracts.

GBP/USD could slip back to 1.2880, the 100-day SMA

Cable’s daily pullback on Wednesday was amidst rising open interest and volume, giving sellers the upper hand for the time being. That said, a deeper retracement to, initially, the 100-day SMA at 1.2880, should not be ruled out just yet.

FX option expiries for Feb 6 NY cut

FX option expiries for Feb 6 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.1030 891m - GBP/USD: GBP amounts 1.3
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Forex Today: China lifts market mood by cutting tariffs, coronavirus fears fade, cryptos climb

Here is what you need to know on Thursday, February 6: Trade: China has announced that it will cut tariffs on imported US goods by half from February
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