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GBP/USD Trading - UK Construction PMI- 4 Oct 2016

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GBP/USD Trading - UK Construction PMI- 4 Oct 2016
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On Monday, the Cable lost 136 points and became the leader of the day.

The British Prime Minister Theresa May announced the early launch of the Brexit and plans to complete the entire procedure faster than two years.

The British Manufacturing PMI jumped from 53.4 to 55.4.

The US data was also positive yesterday. The ISM Manufacturing PMI rose from 49.4 to 51.5.

The construction spending fell by 0.7% against the forecast of growth by 0.2%, and it can affect on the construction data later. Today, the economic calendar is poor. The UK Construction PMI is projected to decline from 49.2 to 49.1.

How to trade binary

We would buy Call options if the pair GBP/USD rises above 1.2861. We would buy Put options if the pair GBP/USD falls below 1.2810.

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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