I begin to seriously like the idea that GBP has reached its top the next few months. As I expect Fed to hike rate in June, and Brexit deal to negatively affect the Pound. It's a good time to take the short.
First target: 1.2800
I will then look for opportunities to hedge these EUR and GBP shorts with other longs to square the risk.
First target: 1.2800
I will then look for opportunities to hedge these EUR and GBP shorts with other longs to square the risk.
Comment:
1.2883 as of writing +50 pips profit
Comment:
Guess I'm good for this week. +120 pips now on this single trade.
Comment:
Reason why GBP suffered: Manchester bomber story is expected to affect UK election. The Conservatives party is closing its gap in election polls. Risk is, if they lead, they may restrict immigration and trade with the EU, which in turn could damage UK economy.
http ://www.reuters.com/article/us-britain-security-manchester-idUSKBN18O0AZ?feedType=RSS&feedName=topNews
http ://www.reuters.com/article/us-britain-security-manchester-idUSKBN18O0AZ?feedType=RSS&feedName=topNews
