Yesterday there was a major breakout in financial markets. For most market participants the EU summit ended up with an unexpected decision of the Greek and EFSF issues. As expected, the news was the major focus, with macroeconomic statistics being ignored by the markets. There was a strong rally against the major trend. GBPUSD gained 200pts.
Today’s news background has no significant reports. The only report that is worth paying attention to is the US Consumer Confidence.
Taking into account the bullish fundamentals it is recommended to turn the strategies bought on volatility expectations into positional or directional ones. It will help to reduce the risk of a potential decline in the level of expected volatility and will simultaneously increase the potential profitability of the strategies.
The main levels of support and resistance are 1.6232 and 1.5911.
Provided by the Department of Options,
