Yesterday, the British pound showed a sharp increase
Business media associate the growth of the Cable with the statement of the chief economist of the Bank of England, Andy Haldane, who announced the advisability of partial reduction of monetary incentives in the second half of the year.
This statement really goes against the recent statement of Mark Carney
We see more grounds for the growth of the British currency due to good indicators of public sector net borrowing. In May, net borrowing showed 5.99 billion pounds sterling against the forecast of 7.0 billion and 8.7 billion in April.
Yesterday the new Parliament of Great Britain started its work - there is an occasion for optimism in Brexit. In the US, existing home sales increased from 5.56 million to 5.62 million in May.
Tomorrow the US will publish data on new home sales. The forecast is very good – 597K against 569K in April. The forecast figure is approximately correlated with December 2007.
Today, the UK will publish data in CBI industrial trends orders for June, the forecast is 7 against 9 in May.
We expect the return of the pair GBP/USD in the range of 1.2590-1.2620.
How we trade binary?
We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2655 level. If our first target is not reached and the price goes above 1.2700, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2700 level.
Target price: 1.2655
Expiry time: 20:00 GMT