The market's reaction wasn’t significant on Friday
The non-farm payrolls showed 227K vs. 175K. The unemployment rate increased from 4.7% to 4.8%, but at the expense of increasing participation rate from 62.7% to 62.9%. In January, the average hourly earnings increased by 0.1% against the expectations of 0.3%. The ISM Non-Manufacturing PMI showed a decrease of 56.5 against the forecast of 57.0.
As a result, the British pound has fallen, but it only confirms that the US was positive
During the week we will see the economic data of secondary importance, maybe the political news will have some interest. We are waiting for consolidation. Today, the economic calendar is empty.
How to trade binary
We would buy Call options if the price goes above 1.2115. This scenario would be invalidated if the pair goes below 1.2440, in which case we would go for Put option with the end of the expiry.
Target price: 1.2515
Expiry time: 21:00 GMT