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GBP/USD trading - US existing home sales - 21 June 2017

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GBP/USD trading chart 21 June 2017
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Yesterday, Mark Carney collapsed the British pound

In yesterday's speech at breakfast at the Mansion House, Mark Carney said that it isn’t the time to begin the "adjustment" for the rates since it is necessary to take into account the Brexit negotiation process. On these words, the pound collapsed by 80 points in 15 minutes, and by the close of the day, the decline was 106 points.

In the US, the current account, as we hoped, was better than the forecast

Yesterday, the Fed officials Charles Evans and Eric Rosengren favored another rate hike until December.

Today, the UK will publish data on public sector net borrowings for May. The forecast is 7.0 billion pounds sterling against 9.6 billion in April. In the US, existing home sales are expected at 5.55 million in May, compared with 5.57 million in April.

We expect a further decline in the pair GBP/USD.

How we trade binary?

We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2600 level. If our first target is not reached and the price goes above 1.2655, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2655 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2600
Expiry time: 20:00 GMT


Jannik P.'s picture

Target Price: 1.2655
Close Price: 1.2665
Direction: Call
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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