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GBPUSD binary options trading - daily trades

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Hello, my name is Zoran I trade binary options and Forex. I trade forex pairs over three years now and binary options since 2 years. I prefer to trade GBP/USD, EUR/USD and oil. My trading journal is created to share with you ideas and signals. I think they could help you in your daily trading. You can simply use my signals to buy call and put binary options. I think they would be helpful not only for beginners but also for professional traders.

Good luck!

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Zoran D.'s picture

GBP/USD fell to 1.5251, which was caused by lower than expected data on business activity in the service sector: 56.7 versus 57.6. My opinion is that the British pound will fall to 1.51 by 10 March.

The dollar was supported by the US statistics. The number of jobs in the private sector in the US in February amounted to 212 000 Vs. 220 000. Ism index in February was 56.9 vs. 56.2 predicted and 56.7 the previous value.

Today we have meeting of the Bank of England and the ECB. The Bank of England will announce interest rate decision. At the same time, the accompanying statement will be released. If the Bank of England saves the monetary policy unchanged, the reaction to the results of the meeting we won’t see.

According to the forecast I’m waiting for drop of pound to 1.5209 after break of 1.5226, in this case the target - 1.5177, in the range 1.5177 - 1.5146 price consolidation. Potential bottom level is 1.5108, at which pullback correction is expected.

Short-term upward movement is possible in the range 1.5320 - 1.5346.
The main trend - the development of downtrend started 26 February.

Zoran D.
Zoran D.'s picture

Unfortunately, GBP/USD failed to close below 1.5226 yesterday. After weak data on house price index from the Halifax the pair was trying to fall below 1.5226, but failed to close below this level. The Monetary Policy Committee of the Bank of England decided to keep its key interest rate unchanged. Central Bank key rate remained at 0.5%, as the size of the asset repurchase program, which remains at 375 billion pounds. Pound didn’t react to the decision, as the market waited for the start of the press conference of Mario Draghi. Therefore, I didn’t buy PUT option yesterday.

Now the pair GBP/USD is trading at 1.5245. Till nonfarm payrolls data we will see flat on the chart. According to the reaction of traders to Draghi speech, after nonfarm payrolls data I expect further falling of British pound. In case of positive US data the pair GBP/USD falls to the area 1.5145. By March 10 pound should fall to 1.51 and by 20 April at around 1.49. Today, all attention is focused on the nonfarm payrolls data.

Zoran D.
Zoran D.'s picture

My prediction was correct. After the publication of positive US nonfarm payrolls data the pair GBP/USD broke down the level 1.5220 and hit 1.5050. Therefore, those who followed my advice and bought PUT options, were able to get a good profit.

Today we won’t see any reports from the UK and the US. Therefore, most likely we will see attempt of the pair GBP/USD consolidate above 1.50. I don’t expect sharp moving of the pair. Traders will wait for data on industrial production in the UK on Wednesday.

Today I predict that GBP/USD will try to win back some ground lost under the influence of the US data. Therefore, I advise to purchase 1 day expiry CALL option at the level 1.5050. Level 1.50 will be support level.

Zoran D.
Zoran D.'s picture

As I predicted yesterday, GBP/USD showed rollback and could win some points after positive data US nonfarm data. At the result, GBP/USD from 1.5050 rose to 1.5125. So everybody who follow my forecast and bought CALL option got profit.

Today, it is worth to pay attention to the speech of the Bank of England Governor, Mark Carney. If he touches rates, investors may receive indirect light.
Investors are expected Wednesday when they get data on industrial production in the UK and the estimate of GDP growth from NIESR. But don’t forget about the American statistics on Thursday. At the result, we have to keep the balance of data. The movement of the pair GBP/USD to 1.4950 and 1.4875 is just the matter of time.

However, it should be noted that the market remains 52% of the long CALL options. At the same time, the share of CALL options added another five per cent from 39% to 44%. Thus the long-term bullish sentiment persists.

Today, however, I recommend buy PUT option. If you look at chart of the pair GBP/USD, you get the impression that price tries to form "double bottom". However, tomorrow's data on industrial production will put everything in its place.

Zoran D.
Zoran D.'s picture

As I predicted yesterday, the pair GBP/USD continued to decline and from the level 1.5125 decreased to 1.5026.

Now on 1H chart the pair GBP/USD has formed the price range with the boundaries 1.5023 and 1.5130. Price moves in the middle of the price channel. Assuming, as the franc, euro and the Australian dollar fell against American dollar, it can be assumed that today the pair GBP/USD will back to the lower boundary of the channel. However, I expect positive news from industrial production.

However, it is worth to remember that today the UK is to publish data on industrial production. If data is weaker than expected, the pair GBP/USD will break the level 1.5023. If the data comes out better than expected, the pair GBP/USD will rise to 1.51. I will refrain from trading till the announcement of the data.

Zoran D.
Zoran D.'s picture

As I expected, yesterday's trading was defined by the UK data. It showed which option to purchase. Data on industrial production of Great Britain upset investors. The actual figure was 1.9 vs. 2.6. It sent the pair GBP/USD to the area 1,4935.

Today, the central event for the pair GBP/USD will be the publication of data on retail sales in the United States. Investors expect the growth rate to 0.3% compared to the previous -0.8%. In case of positive US data, the pair GBP/USD will decrease to the area below 1.4900 so I recommend to buy PUT option after the publication of positive US data.

Zoran D.
Zoran D.'s picture

Yesterday's trading with GBP/USD pair was very interesting. First, the positive trade balance of Great Britain and lower than forecast retail sales data in the US, -0.6 vs. 0.3, allowed the pair GBP/USD to reach daily high 1.5026. But then after 15 minute, bullish candle abruptly became bearish after Mark Carne speech. In his speech, Mark Carney said that at the moment there is no rush to raise key interest rate. At the result, the pair GBP/USD lost 177 points and fell from 1.5026 to 1.4849. So those who didn’t panic after US data and didn’t buy CALL options, but purchased PUT option on my advice and wait for it expiration, were able to make a profit.

Today, Britain has an empty economic calendar. The United States will publish data on producer prices in February and consumer confidence index of the University of Michigan.

Today I expect the new rollback of the pair GBP/USD to the area 1.4910 and then drop to 1.4825. So today I recommend wait for rollback of the pair to the level 1.49 and then purchase option PUT.

Zoran D.
Zoran D.'s picture

If you followed my advice on Friday and purchased GBP/USD PUT option with expiration 1 day, then you have made a profit. As well as I made.

According to the analytics, on Friday the pair GBP/USD continued to fall, reaching minimum 1.4698. Traders are selling the pound in response to the statement of the Bank of England Governor Mark Carney (statement made on Thursday) that there is no need to hurry with the increase of interest rates. But after minimum the pair GBP/USD was able to go back and closed around 1.4743.

Today, the United Kingdom and the United States have an empty economic calendar. Therefore, I expect the correction of the pair GBP/USD to the area 1.4833 during the European session and decreasing to the level 1.48 during the American session. Now the pound is trading at 1.4769. I don’t recommend to buy CALL option near 1.48.

Zoran D.
Zoran D.'s picture

As you see my prognosis was correct. I advised to Buy CALL option at the level: 1.4775 with expiry 1 day.
High: 1.4852
Low: 1.47311
Close price: 1.4826
Current price: 1.4820

Zoran D.
Zoran D.'s picture

According to yesterday's trade, the pair GBP/USD rebounded 90 points. During the American session, the pound strengthened against the US dollar to 1.4852.

The pair is trading at 1.4827. After yesterday we have the risk of growth GBP/USD to the trend line. Now it passes through 1.4868.

Tomorrow, the US Federal Reserve will announce the monetary policy decision. If the Fed will delay raising interest rates due to weak macro indicators, we will see correction of the pair GBP/USD. To save the existing bearish trend the pair GBP/USD should return to the level 1.4750.

Today, the UK doesn’t present important news. Since all important events will take place tomorrow, voting members of the Monetary Policy Committee of the Bank of England and the Fed's FOMC meeting. Today GBP/USD will move in anticipation of these events. I still believe that today the pair will try to keep the bearish trend therefore I advice to buy PUT option at 1,4815-1,4800 with 1 day expiration.

Zoran D.