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.
Target prices: 1.2967 (Call) or 1.2919 (Put)
Expiry time: 20:00 GMT