UK Interest Rate Statement: June 4th, 2015
Binary Options Strategy | Jun 04, 2015 02:05AM ET
Without a doubt, the most important announcement during the session on Thursday will be the UK interest-rate statement. Ultimately, we feel that the market will probably focus on the FTSE and the GBP/USD pair in general, and with the Nonfarm Payroll numbers coming out tomorrow, the markets will probably be fairly calm outside of these two particular financial instruments.
Looking at the FTSE, we struggled to go much higher during the course of the session on Wednesday, as there is a significant amount of resistance near the 7000 level. Ultimately, we believe that the market will go higher, so pullbacks should continue to offer call buying opportunities eventually, as looking towards short-term charts for entries will probably be the best way to go.
Looking at the GBP/USD pair, we pull back slightly during the course of the session on Wednesday, as the Tuesday session was so bullish. Ultimately, the market pulling back simply will offer value in the British pound, and as a result we think the buyers will continue to come back to this market again and again. Ultimately, we believe that the market will probably head back towards the 1.55 handle.
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