Have entered short at market as the GBP continues to remain weak with Brexit uncertainty. The risk tone remains off which is supporting the JPY. I think this continue for the rest of the week.
As usual I am nervous about trading the GBP as it can seem to find strength from nowhere.
As usual I am nervous about trading the GBP as it can seem to find strength from nowhere.
Comment:
A second entry could be considered at 138.00. There is a market bill being released by the UK today relating to Brexit which could act as a catalyst for this position in either direction.
Trade closed manually:
Closed position on Friday at 135.75 for a £8 profit. Was late in the US session where it was unlikely there would be any fresh catalysts to make the price break the low of the day.