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GBP/USD Put Signal 24 June 2016

Signal details
Entry Price: 
1.3850
Close Price: 
1.3628
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

The markets have stabilized as the pound is currently trading about 9 per cent lower on the day. Just before the equities market open in the U.S. the GBP/USD has attempted a move towards 1.3770 which failed. We are hoping for another pinch higher to 1.3850, where we will be buying daily puts.

The rationale for the trade is that the British pound has much further to fall in the aftermath of Brexit. The pair has earlier today dropped over 1700 pips (17 cents!) to trade as low as 1.3230. We are seeing the pressure on the British currency intensifying in the news term.

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.