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GBP/USD Forecast 28 Apr 2016

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GBP/USD Forecast 28 Apr 2016
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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

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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