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GBP/USD Trading - UK retail sales - 19 Aug 2016

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GBP/USD Trading – UK retail sales - 19 Aug 2016
3.7/5 of 3 ratings

Yesterday, the cable was supported thanks to the strong retail sales data.

The British retail sales up by 1.4% against the forecast of 0.1%.

Today we can see the continuation of the British pound purchase.

Formally, the British pound purchase today can continue. Today the UK will present data on the Public Sector Net Borrowing, which are expected to be positive.

It seems that it is all-important data that may be of interest to us today.

We expect the pair GBP/USD continues to strengthen.

How to trade binary

We would buy put options if the pair falls below 1.3115. We would buy call options if the pair GBP/USD rises above 1.32.

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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