Yesterday the market volatility of GBPUSD was very low due to the day-off in the USA (Independence Day). During the entire trading day GBPUSD was moving in a narrow price range around the resistance level 1.6074. Only at the very beginning of yesterday’s Euro trading session the currency pair made an effort to rally but failed to do that and stayed flat.
In general, major market participants’ sentiment is positive mainly due to the fact that the Greek debt problem seems to be finally solved. After the Greek parliament approved a package of austerity measures the EU authorities agreed to provide Greece with a €111B loan. The conditions for another loan will be revealed within a couple of weeks.
Today’s news background is not going to be rich in significant economic reports. However, the eurozone and UK’s Services PМIs are worth paying attention to.
The main levels of support and resistance are 1.5911 and 1.6232.
Provided by the Department of Options,
