4:30am (NY Time) UK Manufacturing PMI Forecast 61.5 Previous 62.0
ACTION: GBP/USD BUY 63.5 SELL 59.0
The Trade Plan
We are looking for a tradable deviation (or the difference between the forecast figure and the actual release figure) of 2.0, and because this is a leading indicator and its impact may hint that the future trend of other economic indicators (such as inventory, employment, retail sales, etc..), market usually reacts to this release with volatility if we get our deviation.
We will be looking to BUY GBP/USD if we get a 63.5 or better, or looking to SELL GBP/USD if we get a 59.0 or worse, we’ll be using the Retracement Trading Method to trade this release.
Happy Trading!
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