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GBP/USD trading - US GDP - 30 Mar 2017

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GBP/USD trading chart 30 Mar
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It’s time to pay attention to the US GDP data

British Prime Minister Teresa May initiated the launch of the 50th article of the EU Treaty on the withdrawal from the European Union. The Prime Minister softened the rhetoric a bit, departing from the original rigid theses. Politicians argue about the amount of compensation that the United Kingdom must pay - about 50 billion euro.

Yesterday data were mixed

In February the number of mortgage approvals was 68.32K against 69.11K in January (revised down from 70K), but the volume of net lending to individuals increased from 4.8 billion pounds to 4.9 billion.

In the US, the pending home sales increased by 5.5% in February against the expectations of 2.4%. Today the US GDP for the 4th quarter will be the main news. The forecast is 2.0% vs. 1.9%. In addition, the number of initial jobless claims is expected at 248K against 261K a week earlier.

How we trade binary?

We would buy Put options if the price goes below the 1.2420 level. This scenario would be invalidated if the pair goes above 1.2461, in which case we would go for Call options with the end of the expiry.

Asset: GBP/USD
Direction: Put
Target price: 1.2420
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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