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

GBP/USD Forecast 29 June 2016

You are here

GBP/USD Forecast 29 June 2016
5/5 of 3 ratings

GBP/USD has calmed after the Brexit

Yesterday the US published the strong GDP data for Q1, 1.1% against the previous 1.0%. The consumer confidence from the Conference Board increased from 92.4 to 98.0 in June.

Today the US will present data on the personal income/spending of consumers. The both are expected to grow. Today's speech of Janet Yellen was canceled.

The Fed representative said that Brexit can cause the decrease rates. Now most analytical agencies believe the UK exit can be the precondition for the future global crisis.

The UK is to publish data on mortgage approvals and lending. In May it’s expected to decline from 66K to 65.

How to trade

The short-term upward movement is possible in the range of 1.3450 - 1.3696. The downward movement is possible after the breakdown of 1.3141. We would buy call options if the pair GBP/USD rises above 1.3450. We would buy put options if the pair falls below 1.3141.

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.

You may also read