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GBP/USD Forecast 11 Apr 2016

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GBP/USD Forecast 11 Apr 2016
4.9/5 of 4 ratings

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

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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