GBP/USD showed active movement yesterday
The British pound started the day well. In April, retail sales increased by 2.3% against the forecast of 1.2%, but on the general strengthening of the US dollar, the pair GBP/USD lost 30 points. In May, the US Philadelphia fed Manufacturing index showed 38.8 against 19.9 and 22.0 in April.
Today's economic calendar is not rich
In the UK, the CBI industrial trends orders are expected to remain unchanged, 4 points. According to the US, the data doesn’t come out. We won’t see the important US data until Tuesday next week, on that day there are data on new home sales for April. The forecast is 611K against 621K in March, which indicates a steady high demand. So, we think the reversal of the pair GBP/USD has started. We are waiting for the pair GBP/USD at 1.2760.
How we trade binary?
We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2910 level. If our first target is not reached and the price goes above 1.2972, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2972 level.
Target price: 1.2910
Expiry time: 20:00 GMT