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01:01 GBP/USD SMA cross argues move higher

The recapture of previous swing highs has resulted in a cross of the GBP/USD 50-period above the 200 SMA.

The signal emerged on 4-hour charts further bolstering the near-term GBP/USD price structure. While breakout traders will wait for a close above recent tops to negotiate a new bull move, less conservative participants will expect a re-test of the crossing level to prove benevolent for continued upside.

00:47 United States CFTC Oil NC net positions: 418.5K vs previous 433.8K

00:47 United States CFTC USD NC net positions dipped from previous $161.9Kto $89.1K

00:47 United States CFTC Gold NC net positions climbed from previous $106K to $116.3K

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Data source: FX Street
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