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GBP/USD Trading - US CB consumer confidence - 30 Aug 2016

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GBP/USD Trading - US CB consumer confidence - 30 Aug 2016
5/5 of 4 ratings

On Monday, the pair GBP/USD continued to decline.

In the evening, the United States presented a good data on consumer income/spending. The data was in line with the forecast.

Today the UK will present data on mortgage approvals and mortgage lending.

In July mortgage approvals are expected at 61.9K against 64.77K in June. The net lending to individuals will decrease from 5.2 billion pounds to 4.9 billion.

The United States will present data on CB consumer confidence, which is expected to decrease from 97.3 to 97.2.

So we are waiting for the development of the downward trend.

How to trade binary

We would buy Put options if the pair GBP/USD falls below 1.3053.

Asset: GBP/USD
Direction: Put
Target price: 1.3053
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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