Forex market volatility expectations have gained considerably through the past week’s trade, increasing the likelihood of major US Dollar breakouts against the British Pound and other key counterparts. Extreme US Dollar sentiment likewise increases the probability of turnarounds in key pairs, and as such the market remains ripe for sustained moves through near term trading. We will position ourselves for Breakout and Momentum-based trading signals, while Range trading strategies look less attractive given the spike in volatility expectations.