**FX Option Expiries for August 7: Big Levels to Watch and Market Flows Ahead of the NY Cut**
FX option expiries for August 7 show key levels to watch: EUR/USD clustered between 1.0850-1.0950 (€3.5B total open interest), USD/JPY at 143.00 and 144.00 ($2.3B), and GBP/USD around 1.2700-1.2750 (£2.5B). Expect heightened volatility and price pinning near these strikes as the 10 AM New York cut approaches. Traders should monitor these zones for potential support/resistance and rapid moves tied to option hedging flows.
