On Friday, the US dollar attempts to strengthen were unsuccessful
In the UK, all the indicators went better than expected. The trade balance showed -10.9 billion vs. the forecast of -11.5 billion pounds. The industrial production increased by 1.1% vs. -0.2%, the manufacturing industry added even 2.1% against the expectations of 0.5%. The construction increased by 1.8% against the forecast of 1.1%.
On Friday, the US data was weaker than expected
In January the US federal budget balance amounted to 51.0 billion dollars against the forecast of 40.0 billion. Michigan consumer sentiment fell from 98.5 to 95.7.
Today, the important data are not published.
Tomorrow the UK will publish the inflation data. Janet Yellen will speak to Congress on the semi-annual report on monetary policy. The Fed may show a tough policy and show the plans to raise rates in March.
How to trade binary
We buy Call options if the pair GBP/USD rises above 1.2520 and fix there, otherwise, the scenario will remain downward. The fixing above 1.2520 will give a good impetus to move to the upper border of the channel 1.2567. In the case of reduction, we would buy Put options from the level of 1.2457.
We would buy CALL options if the price goes above 1.2520. This scenario would be invalidated if the pair goes below 1.2457, in which case we would go for PUT option with the end of the expiry.
Target price: 1.2520
Expiry time: 21:00 GMT