FOMC meeting passed almost unnoticed for GBP/USD
The pair GBP/USD tried to gain a foothold due to positive data on GDP. The pair even managed to rise above 1.46.
However, during the US trading session, the pair fell below 1.45. In April, the balance of retail sales has fallen from 7 to -13 while waiting for growth to 15 points. The US dollar was able to gain a foothold, despite the soft comments of the FOMC members.
Today, it is worth to pay attention to the US GDP data. In the first quarter, the first estimate is 0.7% compared to 1.4% in the 4th quarter. Today, we assume the recovery of the pair GBP/USD in the 1.46 area.
How to trade
We would buy call options if the pair rises above 1.4605. We would buy put options if the pair falls below 1.4525.
Expiry time: 20:00 GMT