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GBP/USD Forecast 1 Apr 2016

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GBP/USD Forecast 1 Apr 2016
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GBP/USD expects NFP data as other pairs

Yesterday the pair GBP/USD demonstrated a certain dynamics. The UK balance for the 4th quarter declined from -20.1 billion pounds to -32.7 billion. In the final assessment GDP for the 4th quarter was raised to 0.6% from 0.5%. But this couldn’t help the pair GBP/USD to grow.

Today all the attention of investors, of course, will focus on US economic indicators. In the US, non-farm payrolls data is expected at 205K v. 242K in February.

We expect to see NFP at 200K, but 200K is quite optimistic figure. The Manufacturing PMI is expected at 51.5 for March against 51.4 in February.

How to trade

We continue to monitor the formation of the upward trend from 24 March. We would buy CALL options if the pair GBP/USD rises above 1.4403. We would buy PUT options if the price falls below 1.4320.

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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