UK Revised GDP q/q is a second GDP release for the Q1 of 2017 period, and since it is the second release for the same quarter market is less likely now to be surprised due to more economic data have been available since the first Prelim release.
Obviously with the “Brexit” effect on the UK economy, today’s release could still surprise, and as usual, we’ll follow the trade plan below and only trade if and when we get our tradable deviation.
4:30am (NY Time) UK Revised GDP q/q Forecast 0.3% Previous 0.3%
The Trade Plan
However, we´ll still be looking to trade the release using our after news retracement method. Our surprise factor is around 0.3% as we´ll look to possibly SELL GBP at 0.0% or worse, and BUY GBP at 0.6% or better.
Historically, if there is a 80% of chance that our S. Factor hits, the market will move up to 50~70 pips within the hour as GDP is a very high impact report.
For more information on my news trading methods: https://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: GBPUSD.
UK Revised GDP q/q | May 25, 2017 | Currency News Plan
May 21, 2017 by Leave a Comment