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GBP/USD trading - US GDP - 28 Apr 2017

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GBP/USD trading chart 28 Apr 2017
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Yesterday, the main event was the decision of Trump to terminate in NAFTA

This decision of Trump caused the joy of the presidents of Canada and Mexico. The parties agreed to rework the trade agreement, to make it "beneficial to all parties." In the UK, CBI Distributive Trades Survey showed the highest dynamics over the past two years - from 9 to 38, against the expectation of a decline of 6 points.

In turn, the US data was pessimistic

In March the core durable goods orders decreased by 0.2%. The total volume of orders increased by 0.7%, but the forecast was 1.5%. The wholesale inventories fell by 0.1% against the expectations of growth by 0.3%. The pending home sales amounted to -0.8% against the forecast of -1%.

Today the main news will be the US GDP data for the first quarter. The forecast is 1.2%. The Chicago PMI is expected to decrease from 57.7 to 56.4.

Also, the Great Britain will publish GDP data. According to the UK, the forecast for the 1st quarter is 2.2% y/y with a quarterly growth of 0.4%.

How we trade binary?

In our view, the price will continue upward if reach 1.2918 level. We would buy Call binary options if a one hour candle opens and closes above the 1.2918 level. If our first target is not reached and the price goes below 1.2868, the first scenario would be invalidated. We would buy Put options if a one hour candle opens and closes below the 1.2868 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2918
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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