The pair GBP/USD is consolidating
In the US, the housing starts totaled 1.246 million in January against the forecast of 1.222 million. The number of building permits rose to 1.285 million vs. the forecast of 1.23 million. The Philadelphia Fed manufacturing index rose sharply from 23.6 to 43,3 and against the forecast of 18.5.
Friday will be calm
Within two weeks, the main events were concentrated around the Fed in March. Today is expected to be calm. In the UK, the retail sales are expected to grow by 0.9% in January. The US CB leading index is expected to grow by 0.5%.
How we trade binary
We would buy Call options only after a real break and consolidation above 1.2514. This scenario would be invalidated if the pair can’t fix above 1.2514 and start declining, in which case we would go for PUT option with the end of the expiry. We would also buy Put options after the breakdown of 1.2465.
Target price: 1.2514
Expiry time: 21:00 GMT