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By: Adam Stone
August 15th 2014 7:00am GMT, London UK

Today’s Binary Options Trading Strategy:

• Currency Pair: GBPUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek call options on dips below 1.6685
• Upside Potential: The upside potential for this call option is 410 pips to 1.7095
• Downside Potential: The downside potential for this call option is 100 pips to 1.6585

The GBPUSD has been plagued by a series of economic disappointments which send this currency pair into a sharp correction. The correction took this currency pair from an intra-day high of 1.7191 reached on July 15th 2014 to an intra-day low of 1.6657 reached on August 14th 2014. Yesterday’s intra-day low may represent a capitulation sell-off which would be a bullish trading signal.

Price action is currently in the process of forming a bottom from where a reversal may emerge, but trading could remain volatile for a few more trading sessions. Binary options traders can take advantage from the expected reversal with a call option. Today’s binary options trading strategy suggests call options to be placed below 1.6685 for a risk/reward ratio of 1.0/4.10.

Today’s GDP data could provide the catalyst which could reverse price action and push the British Pound higher. In addition to the potential capitulation sell-off low price action has also formed a narrow falling wedge formation which is a bullish chart pattern.


This is expected to further provide support for a rally from current levels and offers a good opportunity to enter binary call options in order to profit from the move higher.

The next resistance level for the GBPUSD is located at 1.6757 which is the intra-day low reached on August 12th 2014 before economic data impacted price action. A breakout above this level will lead the way higher to the next resistance level at 1.6845 which was the intra-day high reached on August 13th 2014. Beyond this level the 1.6994 mark is the only resistance in the way of price action to reach the 1.7085 level.

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

Second-Quarter GDP:

• Expectations: UK Q2 GDP expansion of 0.8% for an annualized increase of 3.1%
• Previous Month’s Data: UK Q1 GDP expansion of 0.8% for an annualized increase of 3.1%
• Impact on British Pound: A GDP reading in-line with expectations could be enough of a catalyst to push the British Pound higher which favors binary call options in the GBPUSD

Index of Services:

• Expectations: Monthly expansion of 0.3% in June, annualized increase of 1.0% for the three-months ending June
• Previous Month’s Data: Monthly increase of 0.3% in May, annualized increase of 1.0% for the three-months ending May
• Impact on British Pound: The service sector is accountable for almost 80% of UK economic output and strength in the service sector is bullish for the UK economy

In addition the following economic reports out of the US are expected to impact the quote currency, the US Dollar, of the GBPUSD currency pair:

Producer Price Index:

• Expectations: Monthly PPI increase of 0.1% and core PPI increase of 0.2% in July, annualized PPI increase of 1.7% and core PPI increase of 1.6%
• Previous Month’s Data: June PPI increase of 0.4% and core PPI increase of 0.2%, annualized PPI increase of 1.9% and core PPI increase of 1.8%
• Impact on US Dollar: A weak PPI report is expected to pressure the US Dollar lower which would favor binary call options in the GBPUSD currency pair
Industrial Production, Manufacturing Production and Capacity Utilization:
• Expectations: Monthly increase of 0.3% in industrial production for July, 0.5% increase in manufacturing production and capacity utilization at 79.2%
• Previous Month’s Data: June increase of 0.2% in industrial production, 0.1% increase in manufacturing production and capacity utilization at 79.1%
• Impact on US Dollar: An acceleration in industrial production as well as manufacturing production will be positive for the US Dollar, but the impact is expected to be overshadowed by positive data out of the UK

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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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