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GBP/USD Forecast 10 June 2016

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GBP/USD Forecast 10 June 2016
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Yesterday the pair GBP/USD pair showed a decline and fell below 1.45.

The UK trade balance improved from -10.6 billion to -10.5 billion pounds. However, it did not help the British pound to strengthen.

Today the important news isn’t scheduled. The US consumer sentiment index from the University of Michigan is expected to decrease from 94.7 to 94.0 in June. We expect the pair GBP/USD will continue decline today.

How to trade

The pair GBP/USD has the key levels on the hourly chart: 1.4540, 1.4428 and 1.4357. If the pair manages to drop below 1.4428, it will continue to decline. If the pair rises above 1.4540, it will continue to rise. We would buy call options if the pair rises above 1.4549. We would buy put binary options if the pair falls below 1.4428.

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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