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GBP/USD Signal - Donald Trump Hits the USD - 2 Nov 2016

Signal details
Entry Price: 
1.2255
Close Price: 
1.2299
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

Since the beginning of the day the GBP/USD has been slowly going up as the pair tested the top end of the range which it has been exploring since the 12th of October. This is happening in the aftermath of the weakened dollar due to Donald Trump’s recent jump in the US election polls. We can see on the chart that the move towards higher prices has been delayed as the pair reached levels above 1.2280.

We are looking towards minor support levels around 1.2250-55 area to build momentum to the upside. The current GBPUSD level is around 1.2265 and we need a 10 pip drop in order to execute our trade. We will be buying daily calls at 1.2255 looking at 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. 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.