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GBP/USD Trading - UK retail sales - 18 Aug 2016

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GBP/USD Trading – UK retail sales - 18 Aug 2016
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FOMC meeting minutes disappointed investors.

At the July meeting, only two members of the committee voted for a rate hike.

Yesterday the United Kingdom published good labor market data. The claimant count change decreased by 8.6K, while expected the growth by 5.2K. And the average wage increased by 2.4%.

Today the UK will present data on retail sales. The forecast is 0.2% vs. -0.9% in June. The United States will present data on the Philadelphia FED manufacturing index. The forecast is 2.0 against -2.9 in July. The initial jobless claims are expected to change little: 269K against 266K the previous week.

How to trade binary

We would buy call options if the pair GBP/USD rises above 1.3085. We would buy put options if the pair falls below 1.30.

Expiry time: 20:00

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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