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GBP/USD Signal - 26 Jul 2016

Signal details
Entry Price: 
1.3155
Close Price: 
1.3128
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
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The GBP/USD has rebounded somewhat after a change in the tone of one of the key policymakers at the Bank of England earlier today sent the British pound lower. The subsequent short squeeze has provided us with decent levels to buy daily puts at present levels around 1.3157.

GBP/USD trading has been focused within a range in recent days and unless we see some dramatic shift in the data patterns from either the United States or Great Britain we are going to remain confined within the price corridor between 1.3060 on the lower bound and 1.3160 at the top end of the range.

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.