GBP/USD stays mildly bid around 1.3050, tracks upbeat clues from options market
|Although the GBP/USD prices retreat from intraday high, the bulls still keep reins around 1.3050 with mild gains heading into Wednesday’s London open.
That said, one-month risk reversal (RR) of GBP/USD, a gauge of calls to puts, braces for the second weekly run-up, per the latest options market data from Reuters.
While the weekly count is in favor of the GBP/USD bulls with the +0.158 figure, the daily count of -0.050 snaps a two-day winning streak and seems to challenge the cable pair’s latest upside.
However, broad US dollar pullback and a retreat in the US Treasury yields, coupled with cautious optimism over the Ukraine-Russia peace talks and hopes of successive rate hikes from the Bank of England (BOE) keep GBP/USD buyers hopeful ahead of the Fed.
Read: GBP/USD keeps bounce off four-month low around mid-1.3000s ahead of Fed
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.