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Tag Archives: Claimant Count

Believing that today’s data could also move the GBP, I decided to put in my straddle with the following details: –

Stop if Offered 1.3280, Spot 1.3312, Stop if Bid 1.3240

As it turned out, unemployment was lower, claimant count was lower and average earnings index was lower……………..does that all mean BOE may tighten monetary policy?

In the meantime, my stop if offered leg was triggered, but market wasn’t moving, it was gyrating between 1.3275 and 1.3285.

So I decided to square the position at 1.3275………….ALL SQUARE.

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.