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GBP/USD Forecast 4 Apr 2016

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GBP/USD Forecast 4 Apr 2016
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We expect the reduction of the pair GBP/USD

On Friday we received the long-awaited data on US labor market. It should be noted that the data were mixed. The data sent to the pair GBP/USD to the 1.42 area.

On Friday we received the long-awaited data on US labor market. It should be noted that the data were mixed. The data sent to the pair GBP/USD to the 1.42 area.

Today the UK will present data on activity in the construction sector.

We expect the reduction of the pair GBP/USD to the level of 1.4000. The British currency continued construction of the downward trend plot.

How to trade

We would buy PUT options if the price falls below 1.4170.

Asset: GBP/USD
Direction: PUT
Target price: 1.4170
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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