FX OPTIONS TREND OPINIONS

15:17 GMT - 11:17 NYT - Monday, July 19, 2010

British pound Trading OUTLOOK

BPX (USD/GBP): further USD weakness expected

Pivot: 68

Our forecast: Down move towards 63 or even 61.

Comment: The pair is pulling back to the lower boundary of a bullish channel which should act as a resistance now.

To leverage our Trend Opinion on British pound, we can use different options :

Buy BPX Aug 10 65.5 PUT

Buy BPX Sep 10 65 PUT

Buy BPX Sep 10 64.5 PUT

Click here to view supporting charts and data for our trend opinion : http://www.tradingcentral.com/newsletter/ise/fx_option_trade_alert_weekly.html