On Thursday, the pair GBP/USD continued to fall against the back of tighter monetary Fed policy.
In the UK the Bank of England left the monetary policy unchanged, noting only that the target inflation slowed down and reducing the economic growth due Brexit is possible. In the US, the business activity indices showed a sharp increase.
Today, the pair GBP/USD will be more relaxed than in the previous two days.
In the US, the housing starts are forecasted at 1.23 million in November, against 1.32 million in October. The number of building permits is expected at 1.24 million against 1.26 million a month earlier.
The UK will present data on the CBI industrial trends orders, which is expected to decrease from -5 to -3. The Bank of England will publish a quarterly report on the economy, which was described by Mark Carney yesterday.
Next week we will get the important data on Thursday (US GDP, consumer spending), so the continuation of the trend depends only on the activity of traders. Our expectations predispose us to the scenario of forming a small consolidation.
How to trade binary
The continuation of downward movement is possible after the breakdown of 1.2365, in this case, the target - 1.2301. The short-term upward movement is possible after the breakdown of 1.2455, where the goal - 1.2492. We would buy Put options if the pair GBP/USD falls below 1.2360. This scenario would be invalidated if the pair goes above 1.2455, in which case we go for Call option with the end of the expiry.
Target price: 1.2365
Expiry time: 21:00 GMT