Yesterday the currency pair updated June’s low after breaking below a major option level (1.5911). The volatility was moderate.
Yesterday’s news background wasn’t rich in major economic reports. The current sentiment in the markets cannot be called positive at the moment. The U.S. labor market spoils the overall picture. The country’s unemployment level reached 9.2% while the non-farm employment level gained only 18K which was 6 times as low as expected (97K).
However, in connection with the beginning of another reporting season in the USA we well may see major market participants showing positive sentiments during the next few weeks.
Today’s news background is of medium intensity. The U.K. news block is the main one. However, the U.S. trade balance is also worth paying attention to.
At the moment GBPUSD is being traded in the range created by 2 option barriers - 1.5911 and 1.5721. It is also necessary to take into account the secondary option barrier located at 1.5824.
Provided by the Department of Options,
