Yesterday GBPUSD was moving in a narrow range. There were no volatility spikes. Even though the news background was rich in major economic reports. Market participants were mainly focused on the situation in Italy.
Apart from Italy’s political life, it is necessary to pay attention to the UK’s RPI and the USA’s initial jobless claims, building permits, housing stats and Philly Fed business index.
At the moment GBPUSD is still being traded between the primary and secondary option barriers 1.5721 and 1.5824,thus forming a zone of strong consolidation, which is conditioned by both technical and fundamental factors.
Provided by the Department of Options,
