Today the volatility of GBPUSD is expected to keep declining. Yesterday’s news background failed to cause any volatility increase even though there were many major economic reports, including the US and eurozone’s labor market data.
Today’s news background can be called “neutral”. There are no major news releases expected for today apart from the summit of the eurozone financial ministers. Among the secondary reports are the EU’s Current Account and the USA’s Foreign buying, T-bonds and Preliminary UoM Consumer Sentiment.
At the moment GBPUSD is being traded in the 1.5824 - 1.5721 range (horizontal channel). According to the traders of the Department of Options, , it is not recommended to make volatility purchases as the level of volatility is declining.
