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GBP/USD Trading - UK Trade Balance - 09 Aug 2016

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GBP/USD Trading – 09 Aug 2016
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On Monday, in the absence of important macroeconomic news, the pair GBP/USD fell slightly.

Today the UK is to publish data on its trade balance and manufacturing production.

The manufacturing production is expected to grow, -0.2% vs. the previous -0.5%. The trade balance is expected to descend from -9.88 billion pounds to -10.00 billion pounds.

The Trade Balance excluding EU countries is expected at -2.50 billion against -2.57 billion in May. We will also see an assessment of July GDP from NIESR. Here we are waiting for the deterioration against 0.6% in June.

The US wholesale inventories are expected unchanged (0.0%) in June and the unit costs labor are expected at 1.8% in the 2nd quarter.

How to trade binary

We would buy call options if the pair GBP/USD rises above 1.3036. We would buy put options if the pair falls below 1.2950.

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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