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GBP/USD Forecast 30 Mar 2016

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GBP/USD Forecast 30 Mar 2016
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GBP/USD waits for ADP employment change report

Yesterday the pair GBP/USD was able to add 130 points. The Bank of England has promised to follow the Brexit item, political risk and intervene in the case of deterioration of the situation.

Later Janet Yellen speech was slightly softer and certainly was the opposite to other recent statements of the Fed members. Referring to global risks, Yellen doubted the sustainability of inflation growth and pointed to be careful when raising rates.

Today the main event could be the report on employment change, published by ADP. According to forecasts, it is expected to decrease from 214K to 195K. In general, the expected rate is very good, but after yesterday's comment the market may behave unpredictably.

How to trade

The pair GBP/USD may rise in the range of 1.4450 - 1.4510, and may return to the level of 1.4250. We would buy CALL options if the pair GBP/USD will rise above 1.4461. We would buy PUTs if the pair falls below 1.4393.

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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