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By: Adam Stone
October 7th 2014 5:26am GMT, London UK
Today’s Binary Options Trading Strategy:

• Currency Pair: GBPCHF
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 1.5425
• Downside Potential: The downside potential for this binary put option is 335 pips to 1.5090
• Upside Potential: The upside potential for this binary put option is 175 pips to 1.5600

The GBPCHF has entered a sideways trend over the past twelve trading days which formed after this currency pair enjoyed a strong upward move from depressed levels. The GBPCHF had two false breakouts above its current resistance level which were both reversed. The strong move higher can trace its origin to an intra-day low of 1.4974 which it reached on September 10th 2014 to an intra-day high of 1.5535 which it reached on October 1st 2014.

Binary options on the GBPCHF

Price action is trading inside its current horizontal resistance level where a descending resistance line is exercising more downward pressure which is expected to force a breakdown. Binary options traders can profit from the anticipated breakdown with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 1.5425 for a risk/reward ratio of 1.0/1.91.

Volatility has been low as the GBPCHF remained trapped in its sideways trading pattern, but as the descending resistance line is exercising an increase in downward pressure traders should expect an increase in volatility as this currency pair approaches the 1.5370 level. Buyers will attempt to hold this level as a breakdown below it will ensure a longer corrective move on the GBPCHF while sellers are likely to increase their activity in order to gain sufficient momentum for a successful breakdown.

A breakdown below the crucial 1.5370 level will take the GBPCHF currency pair to the 1.5308 level which is an intra-day low reached on September 23rd 2014 and represents a level where a previous drift lower was halted and reversed to a false breakout above its current resistance level. A breakdown below this level will take the GBPCHF to the intra-day high of 1.5232 which it reached on September 12th 2014. The final support level awaits the GBPCHF at the 1.5093 level which is an intra-day low reached on September 16th 2014.

The following economic data out of the United Kingdom is expected to impact the base currency, the British Pound, of the GBPCHF currency pair:

Industrial & Manufacturing Production for the month of August:

• Expectations: A monthly reading of 0.0% in industrial production and an increase of 0.1% in manufacturing production, an annualized increase of 2.6% in industrial production and 3.4% increase in manufacturing production
• Previous Report’s Data: A monthly increase of 0.5% in industrial production and an increase of 0.3% in manufacturing production was reported in July, an annualized increase of 1.7% in industrial production and 2.2% increase in manufacturing production
• Impact on the British Pound: The monthly slowdown in industrial as well as manufacturing production could impact the British Pound negatively which favors binary put options in the GBPCHF currency pair

In addition the following economic report out of Switzerland is expected to impact the quote currency, the Swiss Franc, of the EURCHF currency pair:

Consumer Price Index for the month of September:

• Expectations: A monthly increase of 0.2%, an annualized reading of 0.0%
• Previous Report’s Data: A monthly reading of 0.0% was reported in August, an annualized increase of 0.1%
• Impact on the Swiss Franc: The anticipated slowdown in annualized inflation on the consumer level may exercise downward pressure on the Swiss Franc, but to a lesser degree than the UK data is expected to pressure the British Pound; this favors binary put options in the GBPCHF currency pair

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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