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GBP/USD trading - US retails sales - 14 Jul 2017

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GBP/USD chart 14 July 2017
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GBP/USD shows uncertainty

Janet Yellen took back her words, said recently, about the impossibility of a crisis "in our lifetime". Yesterday she stated that it is impossible to say with certainty. In June, the Core PPI grew by 0.1%, against the expectation of 0.2%. The PPI added 0.1%, against the forecast of -0.1%.

Today, the US retail sales data and industrial production will be the main events

The Core Retail Price Index is expected to grow by 0.2%, the total can grow by 0.1%. The retails sales can increase by 0.1% against the previous -0.3%. The growth in industrial production is projected at 0.3%, an increase in the capacity utilization rate can increase from 76.6% to 76.7%. The Michigan consumer sentiment index is predicted unchanged, 95.1 points in July.

How we trade binary?

We are looking to purchase Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2967 level. If our first target is not reached and the price breaks our support level at 1.2919, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2919 level.

Asset: GBP/USD
Target prices: 1.2967 (Call) or 1.2919 (Put)
Expiry time: 20:00 GMT


Jannik P.'s picture

Target Price: 1.2967
Direction: Call
Close Price: 1.3108
Expiry Time: 20:00 GMT
Result: ITM

Jannik P.

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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