Yesterday the currency pair broke through 2 most important option barriers located at 1.6327 and 1.6232. As it was expected, the day was rich in significant news reports. The level of volatility broke all the records set during the recent months. Apart from yesterday’s statistics it was the EU minfins’ unsuccessful efforts to save Greece from default that maintained the volatility at the record levels. The European ministers of finance still don’t have a single opinion on how to solve the Greek debt problem, which raises concerns among investors. The final round of talks is scheduled for June 20th.
Today’s news background is fairly rich in news.
The most significant reports are the employment data for the EU and US, the European CPI and US housing-market news block. Obviously, any major deviation from the forecast will maintain the volatility at the record levels. If GBPUSD keeps declining today 1.5911 will probably become the support line of the currency pair. 1.6074and 1.5999 will become intermediate levels.
Provided by the Department of Options,
