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.
Target price: 1.2885
Expiry time: 20:00 GMT