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GBP/USD Forecast 30 June 2016

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GBP/USD Forecast 30 June 2016
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It seems that the panic after Brexit is over.

Investors have realized that the UK will exit the EU gradually. David Cameron will remain until September, and only the new government will proceed to the exit.

The macroeconomic data was better than expected yesterday. The number of mortgage approvals rose to 67 thousand. The volume of net lending to individuals increased from 1.6 bn. to 4.3 billion.

The US personal income increased by 0.2% in May, the personal spending rose by 0.4%.
Today the UK is to publish data on the balance of payments and UK GDP for the 1st quarter. The deficit of the current account could be reduced from -32.7 billion pounds to -27.3 billion. The GDP is expected unchanged at 0.4%.

The US is to publish data on Chicago PMI index - the forecast for the current month 50.7 against 49.3 in May.

The pair GBP/USD maintains the possibility of growth to the area of 1.3700.

How to trade

The upward movement is possible in the range of 1.3494 - 1.3696. The downward movement is possible after the breakdown of 1.3149. We would buy call options if the pair rises above 1.3494. We would buy put options if the pair falls below 1.3340.

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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