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GBP/USD Trading - US Durable Goods Orders - 28 Sep 2016

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GBP/USD Trading – US Durable Goods Orders – 28 Sep 2016
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Despite the positive US data, the pair GBP/USD showed growth.

The US Services PMI rose from 51.0 to 51.9 against the forecast of 51.1. The consumer confidence rose from 101.8 to 104.1 while waiting for a decline to 98.6.

The reducing likelihood of rate increase by Fed in December is becoming the main force of the pressure on the US dollar.

Today the US will present data on the durable goods orders in August. The forecast is -1.4% vs. 4.4% in July, the core durable goods orders are expected at -0.4% vs. 1.3% a month earlier.

Today Janet Yellen speaks at the Financial Services Committee in the House of Representatives. If she repeats the thesis about the likely rate hike in December, it can stop the lowering of expectations concerning rate increase. If there is no emphasis, the pair GBP/USD can continue growing.

How to trade binary

We would buy Call options if the pair GBP/USD rises above 1.3025. We would buy Put options if the pair falls below 1.2910.

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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