Yesterday the currency pair was continuously trying to come out of the week-long price range. As the news background was week the efforts failed.
Today’s news blocks are going to be fairly rich in significant economic reports. Special attention should be paid to Europe’s Industrial New Orders, the Bank of England’s MPC Meeting Minutes and the Eurozone’s Consumer Confidence Index. The Fed Res Chairman Ben Bernanke’s speech is also worth paying attention to.
Obviously, any major deviation from the expected values will increase the volatility of GBPUSD, which has been overheated for 3 weeks. In this case the option barriers 1.6327 and 1.5911 will become the closest support/resistance levels.
Provided by the Department of Options,
