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

GBP/USD trading - UK survey data - 29 May 2017

You are here

GBP/USD trading chart 29 May 2017
4.9/5 of 7 ratings

On Friday, the pair GBP/USD lost 140 points

The main reason was the survey data before the elections to the British Parliament. The conservatives' rating fell by 3% as a result of the terrorist attack in Manchester. The Conservatives (T. May) have 43% sympathy against 38% of Labor.

The good US data helped to accelerate the fall of the pair GBP/USD

In the 1st quarter, the US GDP in the 2nd assessment was revised to increase from 0.7% to 1.2% with a forecast of 0.9%. However, the volume of durable goods orders (Core Durable Goods Orders) showed -0.4% in April against the forecast of 0.4%. The total volume of orders (Durable Goods Orders) decreased by 0.7%, although the forecast was even worse: -1.4%.

Today China, the United Kingdom, and the United States have a day off, the markets are closed.

How we trade binary?

We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2804 level. If our first target is not reached and the price goes above 1.860, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.860 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2804
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