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

GBP/USD trading - UK mortgage approvals- 25 May 2017

You are here

GBP/USD trading chart 25 May 2017
5/5 of 6 ratings

FOMC meeting minutes didn’t provide any additional information

The expectations for the rate hike didn’t change. It is 74.1% for June. In April the existing home sales were worse than the forecast: 5.57 million against 5.65 million.

Today the markets are closed in France, Germany and Switzerland

The UK will provide data on GDP for the first quarter, the forecast is unchanged, 0.3%. Tomorrow the 2nd GDP estimate for the United States will be published. And there the forecast is optimistic: 0.9% versus 0.7% in the 1st estimate. In the UK, the BBA mortgage approvals are expected to reach 40,800 in April against 41,100 in March.

The US will present the goods trade balance for April, the forecast is -64.6 billion dollars against -64.8 billion in March. The wholesale sales inventories are expected to increase by 0.2% in April.
We expect the pair GBP/USD will stay in the range of 1.2970-1.3040, with a possible reversal down tomorrow.

How we trade binary?

We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2970 level. If our first target is not reached and the price goes above 1.3040, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.3040 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2970
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.

You may also read