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GBP/USD Signal - Brexit Could be Delayed - 03 Nov 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
21:00 GMT
How we trade
5/5 of 3 ratings

Since the beginning of the day, the GBP/USD has rallied strongly: from the 1.2298 level to it's daily high which is just above 1.2490. The essential reasons for that are related to the Brexit vote ratification in parliament which was mandated by the London High Court earlier today. We are seeing vast opportunities across markets with the appeal in Supreme Court still being on the line.

Helping the GBPUSD is Donald Trump, who continues to gather support in the last moments of the presidential race. Looking at the technical aspect of the picture the 1.2430 level stands out as a key support for the pair's further upside. We are looking for a retest of this level and are aiming at a test of the daily high. We would be buying daily calls at 1.2430, heading for the 21:00 GMT expiration.

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. 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. All risks and coasts associated with online trading are your responsibility.