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GBP/USD trading - Teresa May speech - 22 May 2017

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GBP/USD trading chart 22 May 2017
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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.

Asset: GBP/USD
Direction: Put
Target price: 1.2970
Expiry time: 20:00 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.

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