The GBPUSD peaked at 1.5266 on 26 March, against our breakeven of 1.5110, a very good 156bps unrealized trading profit.
However, the spot rate has since trended back downwards to the current level of 1.5147, a miserable 37bps unrealized trading profit.
Our mistake was not closing the position by selling the option earlier. Nonetheless, we still have time before the option expires.
I believe the GBP will benefit somewhat from the mess and chaos in the Eurozone. Let’s see.
The Panthenon Investment Group 