On Wednesday the UK macroeconomic data came out better than expected and stopped the decline of the British pound.
In the UK, the unemployment rate fell from 5.0% to 4.9%, the forecast assumed unchanged level. In May, the average wage increased by 2.3% - as expected.
Today we expect weaker data from the UK. The retail sales are expected at -0.6% versus the previous 0.9%.
In the US Philadelphia Fed manufacturing index is expected to grow from 4.7 to 5.1 in June. The house price index could show growth by 0.4%. The existing home sales are expected to slightly lower, to 5.48 million against 5.53 million.
The pair GBP/USD can descend to the 1.31 area.
How to trade
We would buy call options if the pair GBP/USD rises above 1.3285. We would buy put options if the pair GBP/USD falls below 1.3200.
Expiry time: 20:00