GBP/USD starts with gap down
In the UK, the CBI industrial trends orders increased from 4 to 9 in May. This morning, the pair GBP/USD began with a downgrade, the British pound started the week with a gap down, but this is only an additional indication of the weakness of the bulls, even if the technical gap is closed.
Investors are waiting for the resolution of the situation with the new elections to the parliament
Investors refrain from major transactions. Prior to the election, any movements of the pair GBP/USD are considered speculative. The macroeconomic data is not published today. In the evening, the FOMC members Harker and Kashkari will share their opinions. Also, it’s worth to pay attention to the speech of the Prime Minister Teresa May.
So, we expect the speculative growth of the pair GBP/USD to 1.3120.
How we trade binary?
We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2970 level. If our first target is not reached and the price goes above 1.3039, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.3039 level.
Target price: 1.2970
Expiry time: 20:00 GMT