Alex Bobrov
Over the last few days the market situation hasn’t changed radically. GBPUSD keeps moving up the bullish sloping channel. Having made a rebound from the 1.5900 option barrier, GBPUSD has declined in down to 1.5700, which is an optional level as well, and is now staying around it. Keeping in mind the overall market sentiments and the strengthening of the US Dollar against most major currency pairs and gold, the currency pair well may get over the restraining option barrier at 1.5700 with target levels at 1.5650 and 1.5600.
Today’s volatility of the currency pair will be conditioned by the following economic news releases:
9.30GMT – UK - Jobless Claims Change, Claimant Count Rate, Average Earnings
11.00GMT – UK - CBI Distributive Trends Survey
13.30GMT – US - CPI, Core CPI, Empire State Manufacturing
14.00GMT – US - Net TIC Flow, Net Long-term TIC Flows
14.15GMT – US - Industrial Production, Capacity Utilization
Provided by the Department of Options,
Alex Bobrov
