Forex Binary Options: Trading Opportunities for GBP/USD

BinaryOptionsNow | Published on August 16, 2011 at 1:24 pm

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The release of the UK Claimant Count Change for the month of July on Wednesday, August 17th at 8:30 A.M. GMT may offer a great opportunity to invest in a profitable Forex Binary Option trade on the GBP/USD currency pair.

The Claimant Count Change, compiled by the Office for National Statistics, measures the change in the number of unemployed people in the UK during the previous month.

The UK Claimant Count Change reached 24.5K in June, much more negative than May’s figures of 19.6K. The increase in the claimant count rate is often a sign of weakness in the UK labor market and has a negative effect on consumer spending and therefore on the economic growth as a whole. Moreover, in both cases, analysts had forecasted gloomy figures but had under-anticipated the negativity of the report.

The release of this month’s report should influence the GBP’s fluctuation as the forecast is once again gloomy with an estimated Claimant Count Change of 20k.

 

GBP/USD Binary Option

 

As highlighted in the chart above, investors who had predicted that Claimant Count Change figures in May released on June 15th would come out higher than expected – and thus decrease the value of the Pound against the US dollar – might have profited from an investment in a PUT on a GBP/USD Forex Binary Option at or around the release of the report.

As is clearly shown, a PUT on a GBP/USD Binary Option with an expiry of 15 minutes to two hours executed at or around 9:30 A.M. GMT+1 would have finished in-the-money, netting up to an 85% payout.

Remember, the financial markets are constantly being influenced by multiple factors so there is no guarantee that the British Pound will only respond to the UK Claimant Count Change data when it is released.

However, judging from past Claimant Count Change data releases such as the one above, there may be an excellent opportunity to profit from binary options trading during the release of this sensitive economic data.

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