GBP/USD is trading sideways
Yesterday the British construction PMI index was better than forecast: 52.5 against the forecast of 52.2. In the US, the number of initial jobless claims fell from 244K to 223K (the forecast was 243K). This is the lowest figure for the past 44 years.
The strong jobless claims figure may directly impact non-farm payrolls
Next Friday the US will publish non-farm payrolls data. The forecast is 180K, and the data can be better. It could be the last argument for a rate increase on March 15.
Today Janet Yellen speaks on "Economic Perspectives" in Chicago's business club. Earlier, Stanley Fischer speaks on "Adoption of the Fed's monetary policy decisions." in New York. These speeches may be the main event of the day.
It’s also worth to pay attention to the British Services PMI data.
How we trade binary?
We would buy Put options if the pair GBP/USD goes below 1.2252. This scenario would be invalidated if the pair goes above1.2324 in which case we would go for Call options with the end of the expiry.
Target price: 1.2252
Expiry time: 21:00 GMT