The option for today is an analysis cycle for binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
As a result of yesterday’s rally GBPCAD reached local resistance at 1.6164, where yesterday evening first supply reaction occurred. Taking into account that subsequent falls did not even reach the nearest (blue) technical support and now the course is once again approaching area of mentioned resistance, we expect we might re-reject it. Remembering the scheduled on 14:00 GMT publication of the BoC statement and decision on interest rates in Canada, it is therefore worth considering PUT option on this instrument in short term.
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