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GBP/USD Forecast Apr 26 2016

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GBP/USD Forecast April 26, 2016
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The US dollar expects strong durable goods orders data today

The cable was able to continue strengthening after Obama's comments, which indicated the need for the UK to remain in the EU. The pair GBP/USD could reach 1.4518 high yesterday.

The US President said that if the British vote for the exit from the EU, the negotiations on the trade agreement with the United States and the United Kingdom can take up to 10 years.

Today, the UK calendar is empty. The US is to publish data on durable goods orders, which are expected to grow by 0.5% against the previous decline by -1.3%.

The main reason which stops the investors to resume buying dollars is the prerequisite of the central banks to make the negative interest rates. Perhaps this is due to the desire of the authorities to increase buying activity.

How to trade

Today the pair GBP/USD has the several key levels on the hourly chart: 1.4559, 1.4427, 1.4367. The short-term upward movement is possible in the range of 1.4559 - 1.4611. The short-term bearish movement is expected in the range of 1.4427 - 1.4367.

We would buy call options if the pair rises above 1.4559. We would buy put binary options if the pair declines below 1.4427.

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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