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GBP/USD Put Signal 22 June 2016

Signal details
Entry Price: 
1.4690
Close Price: 
1.4699
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 3 ratings

The GBP/USD has gotten rejected one more time above 1.4770, the second such occurrence in two days, which is opening the door for another round of consolidation before the all important Brexit referendum vote tomorrow. The outcome of the vote will define how will the financial markets behave over the summer period.

With the British pound gaining ground against the U.S. dollar in the beginning of the week, risks have receded somewhat just before the most important day for the financial markets in June (if not for the whole of 2016). We would be buying daily put binary options on the pair at 1.4690 during the New York trading session today.

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.