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Trade: Short GBPUSD on weaker GDP and worsening current account deficit

I saw an event trading opportunity with the UK GDP and current account numbers came out at 4:30pm Singapore time.

I short the GBPUSD at 1.5297 and squared at 1.5267 for a 30bps trading profit.

Then I had to shut down as I needed to leave the office.

Now at 9pm Singapore time, the GBPUSD is at 1.5243………….no worries, based on my stochastics, I should be out at 1.5267 which I did because it retraced back upwards to 1.5300 at 7pm Singapore time.

The GBPUSD actually weaken by 40bps to 1.5243 just 10 minutes ago, and I can’t explain why, when the EUR, JPY and AUD are all holding steady against the USD.  Initial Jobless claims and personal spending came in flat as per forecast.

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