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GBP/USD Trading - BoE meeting - 15 Sep 2016

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GBP/USD Trading - BoE meeting - 15 Sep 2016
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Today is super Thursday for the Cable

Yesterday the UK published the weak data on labor. The number of unemployed has increased by 2.4K vs. the forecast of 1.8 K. The average earning (excluding bonuses) rose by 2.1% against the expectations of 2.2%. The unemployment rate remained at 4.9%.

Today is super Thursday for the British pound - the Bank of England's monetary policy decision and the publication of meeting minutes.

However, investors do not expect any changes. However, data on retail sales will be published before the Bank of England meeting. The forecast is -0.4%. The annual Retail Sales is expected to decrease from 5.9% to 5.4%.

In the evening we will get enough data from the US. The retail sales forecasts are ambiguous for August: the core retail sales are expected to rise by 0.2%, the Core PPI is expected at 0.1%. The industrial production is expected to decline by 0.3%. The Philadelphia Fed Manufacturing Index may drop from 2.0 to 1.1 points. Even the number of jobless claims is expected to increase from 259K to 262K.

Thus, the September increase is becoming more doubtful.

Today we expect the return of the pair GBP/USD at the 1.3140 area.

How to trade binary

We would buy call options if the pair rises above 1.3270. We would buy Put options if the pair GBP/USD falls below 1.32.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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