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GBP/USD trading - US current account- 20 June 2017

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GBP/USD trading chart 20 June 2017
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The beginning of the week was calm

There were no significant events from either the economic indicators or the political arena. Speech by the President of the Federal Reserve Bank of New York, William Dudley was optimistic, he believes that low unemployment will help cope with the recent decline in inflation.

Important news and events are not scheduled today

Today, the US will publish a balance of payments for the first quarter. The forecast is -123.8 billion dollars against -112.4 billion in the previous period. If the forecast is confirmed, this will be one of the worst values for the last 5 years.

Today the head of the Bank of England, Mark Carney, speaks at breakfast at the Mansion House. As a rule, nothing interesting is said at this traditional event.
We expect the pair GBP/USD in the range 1.2727-1.2760.

How we trade binary?

We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2727 level. If our first target is not reached and the price goes above 1.2760, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2760 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2727
Expiry time: 20:00 GMT


Jannik P.'s picture

Target Price: 1.2727
Close Price: 1.2629
Direction: Put
Expiry Time: 20:00 GMT
Result: ITM

Jannik P.

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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