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GBP/USD Signal - 02 Feb 2016

Signal details
Entry Price: 
1.4390
Close Price: 
No Trade
Direction: 
Low
Expiry Time: 
21:00 GMT
How we trade
5/5 of 2 ratings

The GBP/USD pair is getting a lift into late London session after a roller coaster session throughout European trading. With the sensitivity of the issue of whether the United Kingdom is going to stay in the European Union or not affeting the rate of the British pound, traders today have focused on headlines.

While the weak construction data from the UK has shot the GBP/USD pair to about 1.4325, the pair rebounded in the aftermath of comments from the president of the European council Donald Tusk that changes will be made for the UK to stay in the EU. We are still unconvinced though and are going to buy daily puts if prices cross 1.4390.

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.