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GBP/USD Trading - BoE meeting minutes - 06 Dec 2016

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GBP/USD chart 6 Dec 2016
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The pound has strengthened against the US dollar since the end of October

In the UK the Services PMI rose from 54.5 to 55.2, the forecast expected to decline to 54.2. In the US the Services PMI fell from 54.7 to 54.6. The ISM non-manufacturing PMI showed an increase from 54.8 to 57.2. The head of the Federal Reserve Bank of New York William Dudley told about the moderate increase in rates in yesterday's speech.

Today, the data is not so important

It is worth to pay attention to the last BoE meeting minutes. The US will present the trade balance for October, the forecast -41.5 billion vs. -36.4 billion in September, but it is not the worst figure for the last two years to October estimates.

In October, the volume of factory orders is projected to rise by 2.5% vs. 0.3% in September. The labor costs are expected to be unchanged for the 3rd quarter.

How to trade binary

The pair GBP/USD broke the resistance level of 1.2730, we expect the further growth in the area of 1.2804. We buy Call options from the current level of 1.2750.

Asset: GBP/USD
Direction: Call
Target price: 1.2750
Expiry time: 21:00 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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