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GBP/USD Signal - Interest Rates - 08 Aug 2016

Signal details
Entry Price: 
1.3050
Close Price: 
1.3039
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
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The value of the GBP/USD pair throughout the day dropped down to as low as 1.3033, which is approximately to the lowest price level which was noted during last week. This is not surprising due to the aftermath of Brexit as the British economy has been noticeably slowing down, which led to Bank of England's decision to cut interest rates lower.

Due to the GBP/USD pair breaking through 1.3050, the rate fell through quickly, only to rebound as of writing to 1.3065. We believe that any dip towards the former support level at 1.3050, we would be buying daily puts for the daily expiration of binary options at 20:00 GMT.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.