Exness-GBPUSD: consolidation before publication of the UK GDP

Buy on a level breakthrough of 1.3160 with 1.3220 target. Stop loss = 1.3110.

Reason for the trading strategy

The final estimate for the UK GDP for Q2 2016 will be published today. Its possible revision from 0.4% (q/q) to 0.5% (q/q) will support the pound. Opening long positions in the GBPUSD pair can be considered above the level of 1.3160.

Exness-GBPUSD: consolidation before publication of the UK GDP

Exness-GBPUSD: consolidation before publication of the UK GDP

Buy on a level breakthrough of 1.3532 with 1.3696 target. Stop loss = 1.3472.


Reason for the trading strategy

Today, it is worth paying attention to the publication of the final evaluation of the UK GDP for Q1 2016. If it is revised from 0.4% (q/q) to 0.5% (q/q), it will create the background for the pound testing the level of $ 1.3532.

Exness-GBPUSD: consolidation before publication of the UK GDP