GBP/USD is forming downtrend
Yesterday the pair GBP/USD demonstrated a reduction to the area of 1.4370. However, today during the Asian session, the pair GBP/USD shows correction.
Yesterday we got news about the resignation of the UK Minister of Labour and Pensions, Duncan Smith.
However, the market took it quite differently, because this man has been one of the main supporters of the campaign for the country's exit from the EU.
How to trade
Yesterday the sellers couldn’t reach the important support level of 1.434. We would buy PUT options if the price falls below 1.4345 today. In this case, the pair GBP/USD may fall to the 1.4274 area.
If the price rises above the level of 1.4420, we would buy CALL options. In this case, we expect the price may grow to the area of 1.4482.
Expiry time: 21:00 GMT