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GBP/USD trading - US CB consumer confidence- 30 May 2017

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GBP/USD trading chart 30 May 2017
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Yesterday the trading was calm

Today, the pair GBP/USD has dropped significantly since morning. There is a rumor that Greece may refuse to pay current payments on loans if the EU doesn’t provide the relief of the current conditions and accelerate the next tranche.

Today it’s worth to pay attention to the US data

In April, the personal income of consumers is expected to grow by 0.4% after 0.2% in March. The personal spending is projected at 0.4% vs. zero change a month earlier. The index of consumer confidence from the Conference Board is expected to decline from 120.3 to 119.8 in May. Also, the S&P/Case-Shiller home price index in the 20 largest US cities may fall from 5.9% y/y to 5.7% y/y.

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 1.2860, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2860 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.

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