Sorry, you need to enable JavaScript to visit this website.

GBP/USD Forecast 1 July 2016

You are here

GBP/USD Forecast 1 July 2016
5/5 of 3 ratings

Mark Carney stated about the necessary of the easing this summer.

British data didn’t surprise the investors. It didn’t cause the excitement: the data for the 1st quarter is no longer interesting. The second quarter data will cause much more interest.

The British current account amounted to -32.6 billion in Q1 while waiting -27.3 billion. And Mark Carney said about the necessary to mitigate the credit policy this summer.

In the US, the Chicago PMI showed a sharp increase from 49.3 to 56.8 against the forecast of 50.6.

Today the UK is to publish data Manufacturing PMI for June, which is expected to decline from 50.1 to 50.0.

The United States are to publish data on Manufacturing PMI from Markit and ISM, which are expected unchanged. We expect a decline to 1.3100.

How to trade

We would buy put options if the pair GBP/USD falls below 1.3234.

Asset: GBP/USD
Direction: Put
Target price: 1.3234
Expiry time: 20:00

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.

You may also read