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GBP/USD trading - the Cable is strengthening - 20 Mar 2017

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GBP/USD trading chart 20 Mar 2017
5/5 of 6 ratings

On Friday, the US data disappoint investors

In February, the industrial production showed zero growth against the forecast of 0.3%. The capacity utilization rate decreased from 75.5% to 75.4%. The Michigan inflation expectations fell from 2.7% to 2.4%.

As we expected, the US public debt begins to attract attention

The speaker of the United States House of Representatives Paul Ryan said that already a number of initiatives on this issue were quietly failed. Steve Mnuchin, the United States Secretary of the Treasury has about 60 billion dollars available for a clean cover of the budget deficit, they will last for a month. But there is no commotion in the market so far. Significant news is not expected today. Tomorrow we will see a block of inflation data from the UK, the forecasts are positive.

How we trade binary?

We would buy Call options from the current level 1.2385.

Asset: GBP/USD
Direction: Call
Target price: 1.2385
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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