FX CHART OF THE DAY: GBPUSD BREAKOUT PROBABILITY

GBPUSD Price is trading at the 1st standard deviation from weekly (120-hour) mean from below amid expanding volatility (measured by 3.2 st deviations from the mean).

Purely on technical basis, if price is to break out from the 1st standard deviation (at 1.5615), traders can look for long positions with stop at the weekly mean (at 1.5560)

Traders should also consider US FED news events coming out 18:00 GMT, which can trigger unexpected price volatility on the cable.