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GBP/USD Trading - US non-farm payrolls - 03 Feb 2017

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GBP/USD trading chart 3 Feb 2017
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Yesterday the pound collapsed by 130 points

The Bank of England as well as the Fed won’t raise rates in the foreseeable future. Investors began to sell after this news. But if the pound sterling, being an indicator of two global regulators began to fall the other currencies will do the same.

We believe that we saw the beginning of the US dollar strengthening yesterday

We continue to believe that the statements of Trump about the super-strong dollar were a bluff, as well as the cancellation of the Pacific Partnership. The US will enter into it with even more preferences.

In the US, the number of jobless claims decreased from 260K to 246K. In the 4th quarter, the non-farm productivity increased by 1.3% against the expectations of 1.0%.

Today the UK is to publish data on the Services PMI. The forecast is 55.8 against the previous 56.2.

The US is to publish data on non-farm payrolls. The forecast is 175K vs.156K in December. The unemployment rate is expected unchanged at 4.7%. There are the signs that the NFP will be higher than the forecast. The ISM Non-Manufacturing PMI is expected to decrease from 57.2 to 57.0, but the factory orders are expected to increase by 1%. We expect a stronger US dollar today.

How to trade binary

We buy Put options from the current level 1.2515.

Asset: GBP/USD

Direction: PUT
Target price: 1.2515
Expiry time: 21:00 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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