The British pound added 54 points, but remained in the week-long narrow range
In the UK, April Services PMI increased from 55.0 to 55.8. In March the net lending to individuals amounted to 4.7 billion pounds against the expectations of 4.5 billion. In the US, the data came out mixed. The trade balance was slightly better than the forecast.
Today, investors are focused on the US data
In April the Change in Nonfarm Payrolls is expected at 185K against 98K in March. The unemployment rate is expected to increase from 4.5% to 4.6%, but due to the fluctuations in data and the previous decrease in unemployment. Today in Stanford (California) there will be a large conference on the structural basis of monetary policy, where S. Fisher, D. Williams, C. Evans, D. Bullard, will have speech. Perhaps they will share their sentiments on the current policy.
How we trade binary?
In our view, the price will continue downward if reach 1.2910 level. We would buy Put binary options if a one hour candle opens and closes below the 1.2910 level. If our first target is not reached and the price goes above 1.2947, the first scenario would be invalidated. We would buy Call options if a one hour candle opens and closes above the 1.2947 level.
Target price: 1.2910
Expiry time: 20:00 GMT