GBP/USD descended yesterday
Despite the fact that in the UK the retail sales showed an increase of 0.6% against the forecast of 0.4%, while the Core retails sales showed 0.9% against the forecast of 0.5%, the pair GBP/USD lost 50 points yesterday.
Today is the day of calm
Today, economic indicators are not published. The exception is the net borrowing of the UK public sector for July, a forecast is 4.3 billion pounds against 6.0 billion a month earlier.
Next week, July 26, the Fed will hold a meeting on monetary policy, and after the meeting, we look forward to aggressive comments and obvious attempts of the US dollar to strengthen.
We are looking forward to the continued decline of the pair GBP/USD in the range of 1.2930-1.2910.
How we trade binary?
We are looking to purchase Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2995 level. If our first target is not reached and the price breaks our support level at 1.2960, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2960 level.
Target prices: 1.2995 (Call) or 1.2960 (Put)
Expiry time: 20:00 GMT