Was the flows moving south for the GBPUSD, so I decided to do a quick trade in late afternoon Asia session and London opening session.
Short the GBPUSD and squared at 1.6835 for a trading profit of 30bps.
Tag Archives: gbpusd
When the MPC votes came out with a 7-2 vote to stay with 2 wanting an increase in interest rate for the UK, the GBP shot up.
I squared at 1.6675 for a trading profit of 30bps.
Later on it came down and stabilized at about the 1.6640s range.
Fundamentals and technicals was pointing to a resurgence of the GBP, so I decided to buy a one month call option expiring Oct 15th struck at 1.6160, premium of 118bps, a breakeven of 1.6278.
I squared the position on October 19th at about 5:40pm at 1.6485 for a whopping 2o7bps trading profit.
Ladies and Gentlemen………….this was a super yummy trade!!!!!!
Yesterday afternoon, the GBPUSD looked ripe for a long position, given the previous less than positive US news. I was betting on alittle more momentum to come through to the GBP since the low of 1.5880 on Oct 15th.
So I executed a 1 day call option at the strike of 1.600, premium of 48bps and squared the position today at 1.6100 for a trading profit of 52bps.
On Tuesday afternoon was watching the GBPUSD, the Ichimoku, MA and Stochastics was calling for a short on the GBPUSD, so I did a short on the GBPUSD.
I followed the trade it about 3 hours later and squared the position at 1.5930 for a trading profit of 50bps.
Executed a 3 day call option on the GBPUSD striked at 1.6170, premium of 40bps and a breakeven of 1.6210.
As it turned out, I lost!
Well, it was purely one of those ‘gut feeling’ trades which turned out to be wrong.
There was so much talk leading up to the NFP today. My gut feel told me that it would be a market mover……….hmmmm……which way would be the real question?!
I felt that the NFP number would come out, as the summer months tend to post stronger numbers.
So I decided to place Stop if Offered trades about 20 bps OTM from the spot rates of GBPUSD, EURUSD and AUDUSD.
5 minutes after the announcement that NFP was 248K and unemployment rate at 5.9%…..Wow………market just sold off on the majors between 50bps to 80bps.
I immediately squared off my three trades and locked in a trading profit of 103bps.
I am now done for this week. Will update the earlier trades for the month of August and September next week.
Here’s wishing all a great weekend.
I decided to short the GBPUSD after the ECB rate decision at 1.6440 to try and compound the move down for the European economies.
Just squared the trade at 1.6400 for a trading profit of 40bps.
This afternoon, the Markit Mfg PMI came out weaker at 55.4 versus forecast of 57.2 and lower than previous month of 57.2.
What is comforting is that the manufacturing PMI has been posting above 50 levels since this year. However, I believe the market will still take the lower PMI negatively.
So I decided to do a quick trade by shorting the GBPUSD at 1.6865 and squared at 1.6835 for a trading profit of 30bps or 3%.
My stochastics and ichimoku told me to short the GBP which I did at 1.7070 and I subsequently, squared the position half an hour later at 1.7035 for a trading profit of 35bps or 0.35%.
The Panthenon Investment Group 