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GBP/USD Trading - Charles Evans speech - 09 Feb 2017

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GBP/USD trading chart 9 Feb 2017
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Yesterday, there were no significant events in the market

The pound used the lack of important events and demonstrated correction. However, today during the Asian trading session the cable demonstrates decline.

Suddenly, the oil began to grow on the data increase in crude oil inventories (13.83 million barrels against the expectations of 2.53 million)

Today, the US is to publish data on the number of jobless claims. The forecast is 249K vs. 246K previously. The main event of the day could be the speech of the chief executive officer of the Federal Reserve Bank of Chicago Charles Evans. Perhaps he would support a rate hike.

How to trade binary

The break of 1.2537 will lead the pound to new highs in the range of 1.2596 and 1.2637. It is also likely to buy CALL options from the level 1.2488 but in the case of the false breakout and a return to 1.2488. If the breakdown 1.2488 is real, the first buyers of PUT options can be observed only in the region of 1.2426.

We would buy CALL options if the price goes above 1.2537. This scenario would be invalidated if the pair goes below 1.2426, in which case we would go for PUT option with the end of the expiry.

Asset: GBP/USD

Direction: CALL

Target price: 1.2537
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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