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By: Adam Stone
September 26th 2014 6:11am GMT, London UK

Today’s Binary Options Trading Strategy:

• Currency Pair: GBPUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.6310
• Upside Potential: The upside potential for this binary call option is 330 pips to 1.6640
• Downside Potential: The downside potential for this binary call option is 110 pips to 1.6200

The GBPUSD currency pair has stabilized its wild and wide price swings after the result of the Scottish Independence vote favored Scotland remaining part of the United Kingdom. This has halted the extreme selling pressure in the British Pound and the GBPUSD rallied from an intra-day low of 1.6052 which it reached on September 10th 2014 to an intra-day high of 1.6524 which it reached on September 19th 2014 from where this currency pair retreated back down to support levels.

Binary options trading strategies on GBPUSD 26-9-2014

Price action is currently trading around an ascending support level which is expected to provide a platform for a renewed move higher in order to test its most recent intra-day which it reached on September 19th 2014. Binary options traders can benefit from the anticipated move higher with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.6310 for a risk/reward ratio of 1.0/3.00.

Traders should be cautious around the 1.6300 level as sellers may attempt to force a breakdown in order to continue the retreat from the most recent intra-day high. Buyers are expected to use the 1.6300 mark together with the ascending support line in order to force price action higher. Volatility is expected to increase, but any dip below the 1.6300 mark should be taken advantage of for a better entry level for binary call options in the GBPUSD currency pair.

A close above the ascending support line will take the GBPUSD into its next resistance level which is located at 1.6415, an intra-day high reached on September 23rd 2014, which previously reversed a move higher. A breakout above this level should take the GBPUSD back into its intra-day high of 1.6524 which it reached on September 10th 2014 free of major interferences. Strong momentum could force a breakout above that level.

The following economic data out of the United Kingdom already impacted the base currency, the British Pound, of the GBPUSD currency pair:
Hometrack Housing Survey for the month of September:

• Released Data: A monthly reading of 0.0%, an annualized increase of 5.0%
• Previous Month’s Data: A monthly increase of 0.1% was reported in August, an annualized increase of 5.5%
• Impact on the British Pound: The annualized slowdown in the UK housing survey did not pressure the British Pound lower which favors binary call options in the GBPUSD currency pair

In addition the following economic report out of the United States is expected to impact the quote currency, the US Dollar, of the GBPUSD currency pair:

Second-Quarter GDP, final reading:

• Expectations: A GDP increase to 4.6% and increase in personal consumption to 2.9%
• Previous Report’s Data: A GDP growth rate of 4.2% and personal consumption at 2.5%
• Impact on the US Dollar: The expected increase in US second-quarter GDP may be too optimistic and prone for a disappointment; this favors binary call options in the GBPUSD 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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