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GBP/USD Forecast 5 Apr 2016

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GBP/USD Forecast 5 Apr 2016
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GBP/USD showed an increase, indicating a moderately positive sentiment for the pair

Yesterday the pair GBP/USD showed an increase, indicating a moderately positive sentiment for the pair, despite the disparate results of surveys on the referendum.

Today, the British services PMI index is forecasted from 52.7 to 53.7 in March. In the US, the February trade balance is expected to -46.20 billion dollars compared to -45.70 billion in January. But the
ISM Non-Manufacturing PM index is expected to growth from 53.4 to 54.0.

In the UK, recent “Brexit” surveys showed an increase in the share of supporters to leave the EU from 39% to 43%, while the percentage of those wishing to stay in the EU has dropped from 56% to 51%. The number of those wishing to participate in the referendum declined from 79% to 70%.

How to trade

If the pair GBP/USD manages to break up the level of 1.4338, it will continue to grow. If the pair falls below 1.4198, it will be traded in the range of 1.4198 - 1.4136. We would buy CALL options if the pair rises above 1.4338. We would buy PUT options if the pair falls below 1.4198.

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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