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GBP/USD trading - UK Manufacturing PMI - 02 May 2017

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GBP/USD trading chart 2 May 2017
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Yesterday's US economic data disappointed

In March, the personal income increased by 0.2% against the expectations of 0.4%, the personal spending showed a zero change against the forecast of 0.2%. The Manufacturing PMI decreased from 57.2 to 54.8 against the forecast of 56.6. The construction costs decreased by 0.2% against the expectations of 0.5% growth.

Today, no significant data is planned

In the UK, April Manufacturing PMI is expected to descend from 54.2 to 54.0. Thus, investors have to wait for tomorrow's results of the Fed meeting. We are waiting for the pair GBP/USD in the area of 1.2800.

How we trade binary?

In our view, the price will continue downward from the current level 1.2885 to 1.2865. We would buy Put binary options from the current.

Asset: GBP/USD
Direction: Put
Target price: 1.2885
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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