Yesterday, the British pound repeated Friday's scenario
The deputy head of BOE Ben Broadbent believes that the trading conditions for England will worsen with the withdrawal from the EU. The pound lost 33 points. Representatives of the Federal Reserve Leonid Breinard and P. Harker spoke out for caution in the rate hikes, but both believe that it is necessary to begin to reduce the Fed's balance sheet and raise the limit of the national debt.
Investors are waiting for Janet Yellen's speech
Today, Janet Yellen is speaking in the lower chamber of the US Congress. In the evening, the Beige Book will be published - a consolidated report on the economic regions of the United States. Thus, until Friday, when the data on retail sales and industrial production will be published, the US dollar enters a state of free wandering.
The British pound has a chance to strengthen, if the data on the labor market is higher than the forecast. However, the claimant count change is expected to increase from 7.3K to 10K. The unemployment rate is expected to be unchanged at 4.6%. The average earnings index + bonus may fall from 2.1% to 1.8%.
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 1.2860 level. If our first target is not reached and the price breaks our support level at 1.2820, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2820 level.
Target prices: 1.2860 (Call) or 1.2820 (Put)
Expiry time: 20:00 GMT