Sorry, you need to enable JavaScript to visit this website.

GBP/USD Trading - UK CPI - 13 Dec 2016

You are here

GBP/USD chart 13 Dec 2016
4.4/5 of 7 ratings

The pair GBP/USD started the week with growth.

Being on the important support level, the pair GBP/USD may not go down till the Fed rate decision. Data on the US federal budget for November exceeded the expectations. The deficit exceeded the forecast: -137 billion dollars compared to -135billion.

Today's data from China showed a growth that keeps the US dollar from strengthening.

In November, the industrial production has increased from 6.1% y/y to 6.2% y/y. The retail sales increased from 10.0% y/y to 10.8% y/y (the forecast 10.2%). The fixed asset investment remained unchanged 8.3% y/y.

In the UK, the consumer price index is projected to rise from 0.9% to 1.1%. The core CPI is expected to increase from 1.2% to 1.3%. The retail prices are expected to rise by 2.1%. The house price index may show a decline from 7.7% to 7.3% in October.

The US is to publish NFIB small business optimism index, which is forecasted to increase from 94.6 to 96.7.

How to trade binary

The upward movement is possible in the range of 1.2690 - 1.2717. We expect a continuation of the downward movement after the breakdown of 1.2658, in this case, the target - 1.2610. We would buy Call options if the pair GBP/USD goes above 1.2690. This scenario would be invalidated if the pair goes below 1.2658, in which case we go for Put option with the end of the expiry.

Asset: GBP/USD
Direction: Call
Target price: 1.2690
Expiry time: 21:00 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.

You may also read