Daily News | Brexit

Here we are once more, folks. It is the end of the global binary options trading week, and what an end it is. The most important news out there, as you might have already guessed, is the Brexit referendum, which has influenced the standing of the pound sterling immensely. Before the results of the referendum were announced, the GBP looked very strong. Its value reached 1.50 USD, which was the highest value of this currency since December. However, when the results started coming in and it became obvious that the United Kingdom is leaving the European Union, the trend reversed completely. In fact, it reversed so much that the GBP fell to less than 1.35 USD in a matter of hours. That’s a drop of more 10%, a huge shock for the market. Suffice to say that this is the lowest GBP has been in over 30 years. Various indexes are dropping like crazy, so it’s really difficult to recommend anything but choosing the put option in your trades if you’re dealing with the GBP. The currency will be feeling consequences of this decision for quite some time, and we expect the aftershock of the Brexit referendum to last at least several days. Given the significance of this decision for the whole British economy, the GBP could have difficulties bouncing back.

Daily News | Get some good support

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Author: Max Rothstein

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