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GBP/USD trading - US initial jobless claims - 20 Apr 2017

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GBP/USD trading chart 20 Apr 2017
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Yesterday, the market was calm after the extreme rise of the British pound

The Fed's beige book was positive. The growth of the economy was recorded in all 12 economic regions across all economic sectors in different growth rates. An interesting point - there are already no accents on the expensive dollar, as it was before.

Today there are secondary data

In the US, the Philadelphia Fed Manufacturing index is expected to decrease from 32.8 to 25.6 for the current month. The number of initial jobless claims is expected at 242K, compared to 234K the previous week. The CD leading index is expected to grow by 0.2% after the February increase by 0.6%.

In the evening, the head of the Bank of England, Mark Carney and US Treasury Secretary Stephen Mnuchin will have speech. Tomorrow we expect good data on the existing home sales in the United States.

How we trade binary?

In our view, the price will continue upward if reach 1.2860 level. We would buy Call binary options if a one hour candle opens and closes above the 1.2860 level. If our first target is not reached and the price goes below 1.2770, the first scenario would be invalidated. We would buy Put options if a one hour candle opens and closes below the 1.2770 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2860
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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