GBPUSD: consolidation before publication of the US Federal Reserve minutes

May 20, 2015

Buy on a level breakthrough of 1.5532 with 1.5630 target. Stop loss = 1.5480.

Reason for the trading strategy

In April, the UK consumer price index fell by 0.1% (y/y) against the background of lower prices for energy resources and food. The base value of the index amounted to 0.8% (y/y), with a forecast of 1.0% (y/y). The data reflect a development of deflationary processes and reduce the likelihood of an early interest rate rise in the country. Meanwhile, the health of the US economy also leaves much to be desired. Tonight, the minutes of the last US Federal Reserve meeting will be published. The nature of the minutes is likely to be soft.

Publication source
EXNESS information  EXNESS reviews

December 2, 2016
Oil may remain above $50
The Oil price continued to push higher today reaching its highest level in over a year with some predicting that the OPEC deal reached yesterday was a game changer and further gains are expected...
November 29, 2016
Euro may hit parity with US dollar
The Euro was under further pressure today against the US dollar on the back of political instability in Italy and, bringing it closer to parity with its American counterpart...
November 28, 2016
ECB speeches, OPEC rumours to dominate Monday
The US is back to the markets in full swing today as investors return from the long weekend and while this may have a major impact on the markets (given the fact that US bonds and US dollar had such a massive influence on global markets recently) other factors dominate in the calendar with the US being present...

Trade360 Rating
Orbex Rating
FxPro Rating
Z.com Trade Rating
Vantage FX Rating
FIBO Group Rating

365BinaryOption Rating
Banc De Binary Rating
Grand Option Rating
OptionBit Rating
TropicalTrade Rating
Anyoption Rating