Sorry, you need to enable JavaScript to visit this website.

GBP/USD Trading - US Manufacturing PMI - 23 Sep 2016

You are here

GBP/USD Trading - US Manufacturing PMI - 23 Sep 2016
5/5 of 2 ratings

The pair GBP/USD failed to fix above 1.31

The existing home sales data, as we expected, did not affect the mood of the market, but this time, the data were worse than forecast: 5.33 million vs. 5.45 million.

Today, the economic data is expected in favor of the dollar.

The manufacturing PMI is expected to grow from 52.0 to 52.1.
However, the pair GBP/USD can return to the range of 1.3060-1.3140. The medium-term trend is also downward.

How to trade binary

We would buy Put options if the pair GBP/USD falls below 1.3029. We would buy Call options if the pair rises above 1.3080.

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.

You may also read