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GBP/USD Trading - Halifax House Price Index - 07 Nov 2016

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GBP/USD chart 7 Nov 2016
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The US labor market data didn't cause a big reaction on Friday.

After the publication of the US unemployment rate which decreased to 4.9% and the creation of new 161K jobs, the Cable added about 50 points. It seems that investors are waiting for the results of the US presidential election.

Today, with the opening of the Asian session, markets began to regain Friday's loss, the gap closed the previous three-day growth.

The FBI found no corpus delicti in the use of personal mailbox for correspondence. The ratio of votes of electors is 216: 164 now. The presidential election will be tomorrow, and there is no doubt about the victory of Clinton. Tomorrow the elections to the Senate, there is equality in the preferences.

Today the UK will present data on house price index from Halifax. The index is forecasted decline from 5.8% to 4.8%.

In the US, consumer credit is expected to decrease from 25.9 billion to 17.6 billion. Thus, today, and tomorrow can be full-range trading on the pound, but in the end, we expect the pound reduction to the area of 1.2135.

How to trade binary

The pair GBP/USD has the key levels on the hourly chart: 1.2508, 1.2428, 1.2375. We continue to monitor the rising structure of 25 October. The continuation of upward movement is possible after the breakdown of 1.2508, in this case, the goal is 1.2593. If the pair falls below 1.2420, it will begin to consolidate and can fall in the area of 1.2375. We would buy Call options if the pair GBP/USD rises above 1.2508. We would buy Put options if the pair falls below 1.2420.

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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