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GBP/USD trading - UK elections - 08 June 2017

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GBP/USD trading chart 8 June 2017
5/5 of 3 ratings

The pair GBP/USD added 46 points yesterday

The Cable added 46 points per day on the old expectations of the victory of the Conservative Party. The last poll showed the Conservatives' advantage of 42.5% versus Labor's 26.8%, which is incredibly different from Labor's 37.2% a few days ago.

The situation with the British elections has become confusing

The last ratings came out clearly biased, but it’s even worse for the Conservative party and for the pound if the result is better for the Labor Party, even they do not win this election.

According to the former head of the FBI, James Comey, he will not represent more information in the Senate than he has already said. As we expected, the Democrats and Republicans managed to agree on this issue. Today we are waiting for the strengthening of the US dollar.

How we trade binary?

We would buy Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2980 level. If our first target is not reached and the price goes below 1.2920, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2920 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2980
Expiry time: 20:00 GMT


Jannik P.'s picture

Target Price: 1.2980
Close Price: 1.2947
Direction: Call
Expiry Time: 20:00 GMT
Result: NT

Jannik P.

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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