The currency pair has just overcome a significant resistance level located at 1.6232. Today the overall picture may change. The main news release will be the ECB’s interest rate decision. EURUSD has updated its 6-month high as the market is expecting the ECB to increase the key interest rate.
The second important event is the Bank of England’s interest rate decision. The current economic situation in GB is unlikely to favor any change, especially an increase. So any major value change will result in a volatility spike. The US initial jobless claims and consumer confidence may increase the volatility of GBPUSD as well. In general the volatility level is expected to be medium or higher.
Provided by the Department of Options,
