British pound started the day with a gap
On the back of the presidential elections in France, the British pound followed the Euro and started the day with a gap. However, GBP/USD descended to the initial position for a few hours. Friday’s data showed, in the UK, March retail sales decreased by 1.8% vs. the forecast of -0.3%, which also contributed to the low reaction of the market this morning.
Markets can already lose interest in elections in France
Today, the CBI industrial trends orders are expected to decrease from 8 to 5. In the evening, the president of the Federal Reserve Bank of Minneapolis, Neil Kashkari will have speech. The US has an empty economical calendar today.
How we trade binary?
In our view, the price will continue upward if reach 1.2855 level. We would buy Call binary options if a one hour candle opens and closes above the 1.2855 level. If our first target is not reached and the price goes below 1.2767, the first scenario would be invalidated. We would buy Put options if a one hour candle opens and closes below the 1.2767 level.
Target price: 1.2855
Expiry time: 20:00 GMT