On Monday the market was calm.
In the UK the CBI industrial trades orders showed growth to -4 against the previous -2 while waiting -6.
Today in the UK, the BBA mortgage approvals are projected to decrease to 40.2K against the previous 42.2K.
In the US the expectations for the December rate increase increased to 49.2%. Tomorrow the Fed may give proof of this promise, regardless of their true intentions.
In the US, new home sales are expected at 560K in June against 551K in May. The services PMI is expected to grow 52.0 vs. 51.4 previously. The Richmond manufacturing index may rise from -7 to -4. The CB consumer confidence is expected to decrease from 98.0 to 95.6.
We continue to expect the decrease in the pair GBP/USD to the 1.2950 area.
How to trade
We would buy put options if the pair GBP/USD falls below 1.3075.
Target price: 1.3075
Expiry time: 20:00 GMT