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GBP/USD Trading - UK Manufacturing Production - 07 Sep 2016

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GBP/USD Trading - UK Manufacturing Production - 07 Sep 2016
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In the US, the reports disappointed investors.

The yesterday’s main index ISM Non-Manufacturing PMI showed a decline from 55.5 to 51.4 in August. This is the lowest rate since December 2009.

As a result, the cable was able to add 135 points.

Today the UK will present data on the manufacturing production for July. The forecast is -0.4% after -0.3% in June. The Halifax house price index is projected at -0.3% in August after -1.0% in July. Then the head of the Bank of England Mark Carney speaks in Parliament with a report on inflation issues. At 15:00 NIESR will publish GDP forecast for August.

How to trade binary

We would buy call options if the pair GBP/USD rises above 1.3453. We would buy put options if the pair falls below 1.3376.

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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