How Brexit affects the GBP?
How Brexit affects the GBP?
Should the ‘ Brexit ’ actually happen or not is the issue of the British Parliament decision.
Prominent politicians continue debating on the subject, inflaming the public attention with controversial forecasts and arguments for and against the possibility of Great Britain’s withdraw from the European Union.
All in all, the results of the EU referendum are not that transparent. What is certain for now— is a sharp fall in the GBP; but it is not clear how long this decrease could last. So, if you would like to profit from the current situation, this is the right source to get relevant information and the best time to exploit binary options or forex trading on the strongest currency pairs.
Quick Fact: Latest Pound/Euro Exchange Rates
“The British Pound declined for a fifth straight day against the US Dollar on Thursday and also reached a new 18-month low of 1.2311 versus the Euro”, notes exchangerates.org.uk.
- On Monday the Pound to Euro exchange rate (GBP/EUR) converts at 1.286
- FX markets see the euro versus pound exchange rate converting at 0.777.
- The live inter-bank EUR-USD spot rate is quoted as 1.134 today.
- Today finds the euro to Swiss Franc spot exchange rate priced at 1.088*
Use ‘ Brexit ’ to Benefit
The fall in GBP has proven to be especially beneficial for binary options and forex traders. Namely, they make profits from GBP/USD, GBP/EUR trades. Leading economists and major financial experts expect GBP to continue decreasing against EUR and USD. And that is how you could benefit from the current situation:
- Select an authoritative binary options broker to open beneficial trades
You may consider Opteck, and here is the reason why. One of its strongest points is special award-winning customer support department and particular focus on the safety & security of client’s funds. Additionally, Opteck offers its traders some unique trading tools, which are then combined with the best possible online education in order to create the most convenient trading environment.
- Choose an appropriate asset to conduct your trade. In this case, if you would like to “trade the trend”, it is advisable to choose currency pairs.
- Open a trading position on the strong currency pair, for instance GBP/USD, GBP/
- Choose your preferable trading instrument.
- It’s important to make sure that you understand which trading features are integrated within various trading tools.
We have listed for you the most popular binary options trading instruments that you can apply when trading currencies with Opteck.
- High/Low Options:
All you have to do in order to conduct your trade is to determine whether the price of your preferable asset will increase (select “Call” option or decrease, choose “Put” option).
- Quick Options:
Conduct a trade within the shortest possible timeframe: 30 seconds,
60 seconds, 5 minutes, etc.
- One Touch:
Enables you to reach up to 400% payout per one trade*.
*Only particular brokers offer 400% payout; see Opteck.
Determine your financial instrument’s range that is fixed in between upper and lower chart lines.
In the light of the arguments mentioned above, it is important to state that “now” is a special time to conduct trades against GBP; especially, if you have a trusted and licensed broker to support you with all necessary materials on currencies trading.