The option for today is a series of articles about 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.
After last week’s dynamic gains GBPUSD since yesterday moves south. It is noteworthy that these declines still failed to reach support (the blue line), which is currently very important (from the point of view of the weekly interval) and now converges with 38.2% of the Fibonacci correction. Instead, from yesterday evening we observed a steady rise, which resulted in reaching local resistance where today the first supply reaction has already occurred. Permanent rejection of this zone could be a signal for declines. In the short term, therefore, it is worth considering PUT option on this instrument.
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