Yesterday GBPUSD returned into the range formed 1.6232 and 1.5911, by two strong option barriers. The day was rich in significant new releases but the volatility level was declining and getting ready for today.
Today’s key news events will include: Retail sales (GB), CBI trends – orders (GB), ECB President Trichet’s speech. The US news block will contain initial jobless claims, continued jobless claims, existing home sales and Phil Fed business index.
Considerable deviations from the expected values will cause volatility hikes. On breaking through the current trend lines the next ones will be 1.6327 and 1.5721.
Provided by the Department of Options,
