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One of the more significant speeches to be made by Theresa May after triggering Article 50.

So I decided to place a straddle just before the speech with the following details: –

Stop If Offered at 1.2538, Spot at 1.2568, Stop if Bid at 1.2590

After Theresa May announced a possible snap election in June, the GBPUSD started getting bidded.

I followed the spot trade till about 9:25pm and decided to square the position at 1.2725 (high was 1.2745) for a trading profit of 135bps.

Thank you Theresa!!!

 

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