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GBP/USD Trading - US Durable Goods Orders - 25 Aug 2016

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GBP/USD Trading – US Durable Goods Orders - 25 Aug 2016
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Investors are preparing for the Janet Yellen speech at the symposium in Jackson Hole.

The market doesn’t expect that the head of the Fed will say something fundamental for the further Fed monetary policy, but investors are concentrated.

In the UK, the idea that the vote on Brexit is not an actual exit from the EU, finally digested and even the subsequent exit of England from this unit does not automatically matter recession.

In the US existing home sales amounted to only 5.39 million in July against the expectations of 5.52 million and 5.57 million in June. The home prices gained 0.2% against the forecast of 0.3%.

Today the US will present data on the durable goods orders in July, which are expected to increase by 3.4%. The core orders growth implies an increase of 0.4% (previous fall was -0.4%). The Services PMI is projected to rise from 51.4 to 51.9.

In the UK, the CBI distributive trades survey is expected to increase to -5 from -14.

In the current situation, the Cable can continue to grow to 1.3320, but may collapse to 1.3140 on the same speculative expectant factors.

How to trade binary

We would buy call options if the pair GBP/USD rises above 1.3270. We would buy put options if the pair falls below 1.3196.

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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