03 December 05:31 AM
Yesterday after making a rebound from 1.5650, GBPUSD declined down to the 1.5500 option level. However it failed to get over it and recovered to 1.5600.
The direction of the forthcoming movement will be mainly conditioned by the behavior of the common European currency and by the key news data on the US economy, which traditionally come out on the 1st Friday of the each month.
The volatility of GBPUSD will manly depend on the following news releases: the 13.30GMT news-block (US), including Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings and Average Workweek. The GBPUSD options at 1.569, 1.5800 and 1.5900, which will expire today at 15.00GMT, should also be taken into account. These levels may become the target levels for GBPUSD. However, the option strikes should also be kept in mind while making calculations.
Provided by the Department of Options, Masterforex-V Academy.
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Text: Andrei Vereshchagin
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