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GBP/USD Trading - US labor data - 10 Oct 2016

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GBP/USD Trading - US labor data results - 10 Oct 2016
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On Friday, the pair GBP/USD has demonstrated correction.

In UK, the Industrial Production collapsed by 0.4% (forecast + 0.1%). The trade balance deteriorated from -9.5 billion pounds to -12.1 billion pounds.

In the US, the labor data were weaker than forecasts.

In the US, the non-farm payrolls showed 156K vs. 175K. It's a good increase, but the number of jobs in the manufacturing sector fell by 13K. The overall unemployment rate increased from 4.9% to 5.0%. Today, the US has the public holiday - Columbus Day, but the stock exchanges work except for the bond market.

How to trade binary

We would buy Call options if the pair GBP/USD rises above 1.2466. We buy Put options if the pair falls below 1.2335.

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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