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Jun 04 - 07:55 AM

GBP/USD - FX Options Providing Strong Clues About GBP/USD

By Richard Pace  —  Jun 04 - 06:01 AM
  • GBP/USD casualty of broad USD gains Thursday, 1.4202-1.4085, base 1.4083 Fri

  • Recovery tests 21-dma 1.4133, close above can avert slide toward 1.40 stops

  • Options were positioned for range trade, small downside risk nL2N2NJ0YZ

  • Since Thursdays GBP/USD slide - option premiums stay low - unchanged outlook

  • 1.40 is key level, contains big stops/new barriers, since break above May 10

  • If level feels threatened, expect to see some reaction in options market

  • GBP/USD NFP volatility risk below that seen in other pairs nL2N2NL0CC

For more click on FXBUZ


GBP=D3 Click here

GBP/USD benchmark 1-month implied volatility Click here

1-3-12-Month GBP/USD risk reversals Click here

Source:
Refinitiv IFR Research/Market Commentary

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