Yesterday the currency pair came close to the option barrier at 1.6565, which is currently acting as a resistance level restraining its further rally. The level of the implied volatility of GBPUSD was high during the entire trading session due to the news blocks from the EU and US.
In particular, the EU reports showed that investors had become more willing to enter riskier trades at the expense of the declining concerns about Greece’s possible default. The EU’s declining CPI added some confidence. During the American trading session the effect was intensified by the collapse of the US Consumer Confidence indicator.
Today’s news background is rich in significant reports and publications. The main ones are the British and European PMI reports, ADP National Employment and ISM Manufacturing PMI (USA) and the ECB President Trichet’s speech.
So, today’s news background is sure to gladden volatility buyers.
подготовлено факультетом Опционов Академии МФ
