Sorry, you need to enable JavaScript to visit this website.

GBP/USD Trading - Michigan Consumer Sentiment Index - 11 Nov 2016

You are here

GBP/USD chart 11 Nov 2016
5/5 of 4 ratings

The new historical record of Dow Jones index became the main event of yesterday.

Investors are ready to purchase US securities, which are expected to increase external borrowing to finance the US infrastructure projects. Investors take into account the effects of Trump's plans outlined in its election campaign.

It’s worth to pay attention that the Cable could get 148 points yesterday.

Taking into account that the Republican Party won the most seats in the Senate, the increase in the external debt limit will be adopted next year without problems. In this regard, the expected QE-4 can be not neglected, since the external infusion may be enough. And the Fed could actually raise the rate in December.

However, then the Fed may lower rates again due to a sharp increase in the cost of debt service, under any pretext.

Today Michigan Consumer Sentiment Index is expected to grow from 87.2 to 87.5. The day will be calm. However, the pair GBP/USD may continue to grow to 1.2630, where the reversal is expected.

How to trade binary

On the hourly chart, the GBP/USD has the key levels: 1.2661, 1.2623, 1.2554, 1.2489. Fixing above the level of 1.2525 indicates the upward priority. The potential goal for the pair is the level of 1.2623. We would buy Call options from the current level of 1.2570.
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.

You may also read