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GBPUSD: growth before the publication of the unemployment rate in the UK

Buy on a level breakthrough of 1.5653 with 1.5703 target. Stop loss = 1.5603.

Reason for the trading strategy

In May, the basic consumer price index in the UK rose from 0.8% (y/y) to 0.9 % (y/y), while the index of house prices fell from 9.6% (y/y) to 5 5% (g/g). The last indicator signaled a decline in consumer activity in British households for long-term purchases, partly due to the political uncertainty, which was observed before the parliamentary elections in the UK. Tonight, it is worth paying attention to the weekly data on the UK labor market.

GBPUSD, H1

GBPUSD



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