As reported by «Market Leader» (US)
GBPUSD volatility preview for March 2nd 2011
Yesterday’s news background prevented GBPUSD from updating the high of 2010.
The currency pair has failed to settle 1.6300 and keeps moving within a range. The option barriers 1.6300 and 1.6232 are still significant. Dealers say the price may go for another test of these levels. In this case everything depends on which one of the levels is broken. The rumors about the demand for the British and Canadian national currencies are still strong.