So GBP is being strangled by pretty much everyone right now. Litteraly the asset is in a massive chokehold and fighting for the air to breathe.
With so much daily fundamental news the emotion of this asset can be likened to Bridgit Jones, or Madonna, or maybe that blondie who named her kid after a fruit....Basically its a hormonal mess of epic proportions.
So taking a look at the USDCAD right now after some banter on the chat :)
My lines represent where I suggest you short or PUT the asset.
For binary its all about 15-60 minute expiration.
For FX its all about adding more points on for each new line crossed.
See the predicted potential drop off zone, potentially a huge amount of unsupported price there. Plus check ...
"Dude!" That's right, time to get out your FX surfboards. Until later today when US data and the ECB president Mario speaks you can be sure that we are going to be riding the combined waves of Elliot and Fib.
Short term binary CALLS are what in my opinion will work here, but please do keep in mind EVERY single trade is a risk. And this is just MY OPINION.