Yesterday the pair GBP/USD was traded in a narrow range.
The UK lending data seemed worse than expected. In July the number of mortgage approvals fell from 64K to 61K. The net lending to individuals amounted to 3.8 billion pounds against 5.1 billion in the previous month.
The US consumer confidence index from the Conference Board rose from 96.7 to 101.1.
Today the US will present data on non-farm employment change from ADP. In August it’s forecasted at 175K vs. 179K that, by analogy with the previous month can talk about the strong NFP which will be published on Friday.
However, Chicago PMI is forecasted to decrease from 55.8 to 54.0 in August. The pending home sales are expected to grow by 0.6-0.7% in July.
We do not rule out the short-term growth of the pair GBP/USD at 1.3140 area and next its reversal to continue descending.
How to trade binary
We would buy put options if the pair GBP/USD falls below 1.3053. We would buy call options if the pair GBP/USD rises above 1.3140.
Expiry time: 20:00 GMT