Yesterday the market was calm
However, in the world political arena, the tension has increased in connection with the last test of North Korea ballistic missile. The most intense day in the market will be Friday - the G-20 summit in Hamburg.
Today we are waiting for the minutes from the last FOMC meeting
Also today, the US will publish data on factory orders for May, the forecast is -0.5%. However, all these indicators will have only a temporary and insignificant impact on the GBP/USD, since the main event will be the publication of the FOMC meeting protocol. And although the Fed doesn’t abandon its plans to raise the refinancing rate, the latest data on the state of the labor market and inflation make us think that the regulator can review them and postpone the next increase for the next year. If the text of the protocol indicates that the Fed will closely monitor the macroeconomic dynamics and proceed from this decision on the interest rate, the dollar will have to give up its positions.
It is expected that the UK Services PMI will drop from 53.8 to 53.5.
How we trade binary?
We are looking to purchase Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2945 level. If our first target is not reached and the price breaks our support level at 1.2903, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2903 level.
Target prices: 1.2945 (Call) or 1.2903 (Put)
Expiry time: 20:00 GMT