Today, the pair GBP/USD will be traded without the important news
The UK economic data released on Friday were negative. Industrial production fell by 0.3% in February (forecast +0.1%), leading to a decrease to 0.5% from + 0.1% on an annualized basis. The trade surplus amounted to -11.96 billion pounds against expectations of -10.2 billion.
This week, the US Treasury allocates 108 billion bonds. March and April are the months of the highest budget revenue in connection with the tax payments. And it seems strange why the Treasury continues intensively to build up debt at such favorable circumstances.
Today, there is no significant news. Today, the head of the New York Fed, William Dudley will have speech. We expect decline in the pair GBP/USD to 1.3820.
How to trade
The pair GBP/USD has the following key levels: 1.4154, 1.4074, 1.3996. If the pair breaks the level of 1.4074, it will fall to the level of 1.3996. If the pair manages to rise above the level of 1.4154, it will rush to the area of 1.4194. We would buy CALL options if the pair GBP/USD rises above 1.4154. We would buy PUT options if the pair falls below 1.4074.
Expiry time: 20:00 GMT