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GBP/USD trading - UK unemployment rate- 12 Apr 2017

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GBP/USD trading chart 12 Apr 2017
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Yesterday the British pound continued the correction in a more aggressive form

In March, the core CPI fell from 2.0% to the expected 1.8%. The CPI remained at 2.3% in February. The retail prices index fell from 3.2% to 3.1%. The house prices index fell to 5.8%. However, the Cable added 76 points yesterday.

The geopolitical situation is getting hotter every day

China has put forward a 150,000-strong army to the border with the DPRK to support the US carrier group moving from the east. Yesterday the gold jumped by 1.58%, which clearly indicates fears of investors. The yield on 5-year US government bonds fell from 1.90% to 1.83%.

Today, the UK will publish the labor market data. The claimant count change is expected at -3K. The unemployment rate is forecasted to be the same, 4.7%. The average earnings can grow from 2.0% to 2.1%. The US will publish a report on the federal budget balance. The forecast assumes a deficit of 167.0 billion.

How we trade binary?

In our view, the price will continue downward if reach 1.2456 level and we would buy Put binary options at that level. If our first target is not reached and the price goes above 1.2501, the first scenario would be invalidated. We would buy Call options if a one hour candle opens and closes above the 1.2501 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2456
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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