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GBP/USD trading - US retail sales - 14 Apr 2017

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GBP/USD trading chart 14 Apr 2017
5/5 of 3 ratings

The market is calm

From yesterday's macroeconomic data only the Michigan consumer sentiment index drew attention. It showed 98.0 against the expectation of 97.1. The PPI showed -0.1% against the expectations 0.0%.

Today, most of the European markets are closed due to Good Friday, but the important US economic data will be published

In March the retail sales are expected at -0.1%. The business inventories are expected unchanged at 0.3%. The core CPI is expected unchanged at 0.2%.

We don’t expect an active movement today. But there are rumors that the United States can launch a preemptive strike against North Korea in the case of another nuclear test, and the North Korean authorities have already hinted at it. And this is the strengthening of the US dollar. We wait for the development of events. The pair GBP/USD is likely to trade in the range of 1.2500-1.2570.

How we trade binary?

In our view, the price will continue downward if reach 1.2500 level. We would buy Put binary options if a one hour candle opens and closes below the 1.2500 level. If our first target is not reached and the price goes above 1.2570, the first scenario would be invalidated. We would buy Call options if a one hour candle opens and closes above the 1.2570 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2500
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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