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Tag Archives: Claimant Count

GBPUSD doesn’t seem to be making any appreciable move upwards, so I decided to square off my Long GBPUSD at 1.2900 for a decent trading profit of 62bps.

I was looking for a trade today.

Decided to do a straddle on the GBPUSD with the following details: –

Stop if Offered; 1.2790, Spot 1.2818, Stop if Bid; 1.2838

As it turned out the Stop if Bid was triggered as Claimant count came in lower at 6K versus 10.5K expectation.  Unemployment also improved slightly from 4.6% to 4.5%.

Am still holding the spot position with SL at 1.2838.

Let’s see.

GBPUSD has been trending upwards the past week, while the EURUSD has been going the opposite direction.

I don’t believe the GBPUSD is sustainable and any negative economic data will see a significant reversal.

This time around will be a triple top; once on May 14th, another on May 22nd. Near this year’s high of 1.5780 on May 14th, happened once this year.

I am going to take a punt and do a OTM put trade: –

GBPUSD  –  Spot 1.5662; Stop if Offered at 1.5640 and SL at 1.5660

Let’s see what happens in the next few mins.