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After the initial big drop starting at about 6pm Asia time from 1.6830, I decided to do a 2 week call option struck at 1.6735 after almost a 100bps, however, I felt that there was going to be a rebound.

Premum was 56bps and breakeven was 1.6791.

Unfortunately, the GBPUSD continued its slow grind southwards and by the 29th, it was at 1.6585.

So, this call option didn’t work out and we made a loss of 56bps.

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