Daily Forex Analysis: High Volatility Expected In GBP/USD

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Daily Forex Analysis: High Volatility Expected In GBP/USD

By Cory Mitchell on May 7, 2009 | More Posts By Cory Mitchell | Author's Website

Expected moves in EURO/USD during important event day;

EURO/USD was trading in the range of 1.3450-1.3230 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.

EURO/USD is expected to break the initial high (1.3356) and low (1.3278) set for the day during European and US sessions. A low in the range of 1.3150-1.3200 could be formed during European session and a high of 1.3450-1.3520 could be formed during US session before tomorrow another big event NFP data release.

GBP/USD - highly volatile moves expected today;

GBP/USD was trading in the range of 1.5150-1.4980 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.

GBP/USD is expected to break the initial high (1.5156) and low (1.5101) set for the day during European and US sessions. A low in the range of 1.4850-1.4900 could be formed during European session and a high of 1.5200-1.5270 could be formed during US session before tomorrow another big event NFP data release.

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