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GBP/USD trading - UK net borrowing - 21 Jul 2017

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GBP/USD chart 21 July 2017
4.8/5 of 4 ratings

GBP/USD descended yesterday

Despite the fact that in the UK the retail sales showed an increase of 0.6% against the forecast of 0.4%, while the Core retails sales showed 0.9% against the forecast of 0.5%, the pair GBP/USD lost 50 points yesterday.

Today is the day of calm

Today, economic indicators are not published. The exception is the net borrowing of the UK public sector for July, a forecast is 4.3 billion pounds against 6.0 billion a month earlier.

Next week, July 26, the Fed will hold a meeting on monetary policy, and after the meeting, we look forward to aggressive comments and obvious attempts of the US dollar to strengthen.

We are looking forward to the continued decline of the pair GBP/USD in the range of 1.2930-1.2910.

How we trade binary?

We are looking to purchase Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2995 level. If our first target is not reached and the price breaks our support level at 1.2960, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2960 level.

Asset: GBP/USD
Target prices: 1.2995 (Call) or 1.2960 (Put)
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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