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GBP/USD Trading - high volatility provided - 09 Nov 2016

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GBP/USD chart 9 Nov 2016
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Most of yesterday was held in line with the bullish for the dollar.

Yesterday the UK industrial production fell by 0.4% vs. the forecast of + 0.1%. The forecast for UK GDP from NIESR for October was 0.4%. So the US dollar could strengthen. However, after the first results, the dollar began to weaken against all the currencies.

Today the high volatility is provided on the markets.

The US presidential election began with the explicit expectation of Hillary Clinton leadership, but the unexpected happened - Donald Trump won the "democratic" states of Wisconsin, Florida.

Markets were shocked and currencies sharply broke up. Euro gained 150 points, the Cable got 100 points, the yen 300 points. At the Asian stock markets showed a collapse: Nikkei225 -5,42%, S&P/ASX200 -2,08%, China A50 -1,37%.

How to trade binary

On the hourly chart, the pair GBP/USD has the key levels: 1.2554, 1.2489, 1.2447, 1.2375, 1.2335 and 1.2272. The short-term downward movement is possible in the range of 1.2375 - 1.2335, hence the high probability of turning up. The short-term upward movement is possible in the range of 1.2447 - 1.2489. Now the pair is trading near 1.2447. We would buy Call options if the pair descends below 1.2447 and then returns above this level. We would buy Put options if the pair falls below 1.2375.

Expiry time: 21:00 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.

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