During yesterday’s trading session GBPUSD was traded in the range formed by 2 option barriers - 1.6232 and 1.5911. The level of volatility was average.
As expected, yesterday’s news blocks didn’t cause any volatility spikes.
The eurozone’s price indexes showed almost the same values (+0.1%). The market showed no reaction even to the ECB’s monthly report.
The amount of initial unemployment claims in the USA declined a little while the country’s retail sales gained 0.1%.
In general, yesterday’s was situation fairly stable and predictable. Some indicators came out a little worse than expected while others came out better than expected. But there were no considerable value gaps between the actual data and the forecast. That is why the level of volatility was moderate.
Today’s news background is of “medium intensity” as all the indicators are secondary. The most significant reports are the USA’s CPI, industrial output and capacity utilization. The Prelim UoM consumer sentiment (USA) and the eurozone’s trade balance are also worth paying attention to.
The major levels of support/resistance are 1.5911 and 1.6232. The secondary S/R levels are 1.5999 and 1.6074.
Provided by the Department of Options,
