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

GBP/USD trading - UK unemployment rate - 18 May 2017

You are here

GBP/USD trading chart 18 May 2017
5/5 of 4 ratings

The British pound grows slowly

The British pound added 76 points over the past two days. Yesterday at a meeting of the European Parliament, D. Tusk said that Britain would not be allowed to join the single market under any trade agreement. On this background, the Cable showed a weak reaction on unemployment rate which reduced from 4.7% to 4.6% and wage growth.

Today the UK will publish macroeconomic data

In the UK, the core retail sales are expected to grow by 1.1% in April. The retails sales are expected at 1.0%. The Philadelphia Fed Manufacturing index is projected to decline from 22.0 to 19.5 in May. On Wednesday next week, the minutes from the last meeting of the Fed will be published - this will be a good opportunity to reverse the market.

How we trade binary?

We would buy Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2942 level. If our first target is not reached and the price goes below 1.2910, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2910 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2942
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