As the preliminary GDP for UK is a data that the market is focusing on, I decided to place my straddle at 5:27pm with the following details: –
GBPUSD: –
Sell, Stop if Offered 1.4220, SL 1.4240
Buy Stop if Bid 1.4270, SL 1.4250
Spot: 1.4251
As it turned out, the preliminary GDP came in on the spot at 0.5% in line with forecast.
GBP moved upwards positively but somewhat muted, it triggered my trade at 1.5270 and I squared the trade at 1.4292 for a trading profit of 22bps.
Ok lah……………
The Panthenon Investment Group 