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GBP/USD Forecast 19 Apr 2016

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GBP/USD Forecast 19 Apr 2016
3.9/5 of 4 ratings

Yesterday, the Cable added by 70 points with no clear reason

The United States didn’t submit any changes. The NAHB housing market index remained unchanged: 58 points. Today we expect a full return to normal conditions.

Today the US will present the number of building permits. It is expected to increase to 1.20 million from 1.18 million.

The UK calendar is empty today.

How to trade

On the hourly chart, the pair GBP/USD has the key levels: 1.4393, 1.4354, 1.4238, 1.4178. We continue to monitor the formation of the rising structure.

We expect the short-term upward movement in the range of 1.4354 - 1.4393. The short-term bearish movement is possible in the range of 1.4238 - 1.4178, here we have the high probability of a reversal to the upside.

We should buy call binary options if the pair rises above 1.4354. We should buy put options if the pair falls below 1.4238.

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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