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GBP/USD Put Signal 20 June 2016

Signal details
Entry Price: 
1.4683
Close Price: 
1.4685
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
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The GBP/USD is buoyed heavily by the referendum polls this week that are pointing towards the United Kingdom remaining in the EU. While we see this move continuing in the coming days unless there is some dramatic shift in the referendum polls, we are putting in place put options for the close of the trading day below 1.4683.

The GBP/USD has opened today in Asia at levels around 1.4460, which is close to 100 pips above the close on Friday last week. With the rally taking out two more major figures and charging through 1.4700 in New York, the move is set to quiet down before the close of Monday trading in the U.S. We are buying daily put options at 1.4680 tonight.

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.