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GBP/USD Call Signal 21 Jan 2016

Signal details
Entry Price: 
1.4190
Close Price: 
1.4240
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The British pound has has a rollercoaster day in the aftermath of the European Central Bank's press conference and some key data on oil supplies. The GBP/USD pair has been swinging between profits and losses all day long with the final result being a harsh chop on the market.

Both bulls and bears have become frustrated with toady's price action after a number of stops were flushed on the downside below 1.41, only to trigger a massive rally back above 1.42. Tonight we will be looking to buy daily calls on the GBP/USD pair on hopes that it may close above 1.42. Our entry point is set at 1.4190.

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.