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GBP/USD trading - Investors doubt - 13 Mar 2017

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GBP/USD trading chart 13 Mar 2017
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Investors doubt the rate increase

The Friday behavior of the pair GBP/USD against the excellent US data confirms the assumption that the rate will not be raised at the next meeting of the Fed (on the 15th) (or it will be increased, but this will be the only increase this year).

On Friday, the US published really strong data

In February, the US economy created 235K new jobs in the non-agricultural sector against the expectations of 190K, the January figure was increased by 11K. The unemployment rate fell from 4.8% to 4.7%, while the participation rate increased from 62.9% to 63.0%. The manufacturing payrolls showed 28K new jobs. The average hourly earnings showed 0.2% against the expectation of 0.3%.

Today, the macroeconomic statistics are not published. Tomorrow it's worth to pay attention to the US PPI. The pair GBP/USD will trade in anticipation of the Fed meeting, which will be held on Wednesday, March 15.

How we trade binary

We would buy Call options if the pair GBP/USD goes above 1.2216. This scenario would be invalidated if the pair goes below 1.2140 in which case we would go for Call options with the end of the expiry.

Asset: GBP/USD
Direction: Call
Target price: 1.2216
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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