Decided to take a punt on this data as it is crucial and will probably have an impact on the GBPUSD.
I decided to put on my straddle with the following deatils: –
Stop if Offered at 1.3100, Spot at 1.3122, Stop if Bid at 1.3145
As it turned out, preliminary GDP came in at 0.4% versus forecast of 0.3%, GBPUSD spiked up, triggering my Stop if Bid trade.
Decided to take profit on half the trade at 1.3200 for a trading profit of 55bps, it’s now trading at 1.3190.
Tonight is durable goods orders in the US, better not take any chances, lock in the profit first, I still have my GBPUSD call options.
The Panthenon Investment Group 