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GBP/USD trading - CB industrial trends orders - 20 Feb 2017

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GBP/USD trading chart 20 Feb 2017
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On Friday, the US dollar regained lost ground

In the UK retail sales decreased by 0.3% in January against the expectations of growth by 1.0% and -2.1% in December. The US CB leading index gained 0.6% against the forecast of 0.5%.

Today, the US market is closed (Presidents’ Day)

Canada also celebrates Family Day. In the UK, CB Industrial Trends Orders are expected to decline from 5 to 3. Tomorrow the US will release the Services PMI which is expected to grow from 55.6 to 55.8.

How we trade binary

The pair GBP/USD may fall to the level of 1.2392, after the formation of a false breakdown it can resume the growth. To buy Call options after the breakdown of 1.2443 can be a bad idea. We would buy Put options after the unsuccessful attempt to fix above 1.2443. This scenario would be invalidated if the pair goes above 1.2445 in which case we would go for Call option with the end of the expiry.

Asset: GBP/USD

Direction: Put

Target price: 1.2443
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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