Yesterday’s trading session was flattish. There were almost no volatility spikes. The news background was too weak to buy strategies.
On the contrary, today’s session promises to be rich in significant stats, including the eurozone’s Services PMI and New Industrial Orders as well as the UK’s MPC Meeting Minutes, BBA Mortgage Approvals and the USA’s Durable Goods, Jobless Claims and Revised UoM Consumer Sentiment.
Obviously, any major deviation from the expected data will increase the volatility of GBPUSD.
At this point GBPUSD is moving around the secondary option barrier 1.5635, which testifies to uncertainty. However, this is beneficial for the buyers of option strategies. The main factor for making profits is a rapid and strong movement in the market of the underlying asset.
The major levels of support/resistance are the option barriers 1.5554 and 1.5721.
Provided by the Department of Options,
