GBPUSD keeps moving in a range around the option barrier 1.6232. Yesterdays’ news block was of medium importance and didn’t cause any volatility hikes. Today’s news releases are expected to be more significant: CPI and RPI (UK), Germany’s ZEW current conditions and sentiment, Build permits and Housing starts (US).
If there is a significant value gap between the actual data and the forecast, the volatility of GBPUSD will surge, favoring volatility buyers. If the price comes out of the existing price range the next support and resistance levels will be the option barriers at 1.6449 and 1.6074 correspondingly.
Provided by the Department of Options,
