Today was UK Services PMI, and typically a hot data.
I decided to put on my straddle just before the announcement of the data with the following details: –
Stop if Offered at 1.3370, Spot at 1.3388, Stop if Bid at 1.3410
As it turned out the data came in weaker at 53.8 versus forecast of 55.2. Instead the GBP strengthened and triggered by Stop if Bid.
As I needed to leave the office to have dinner with my wife, I decied to square the spot trade at 1.3430 for a small trading profit of 20bps.
The Panthenon Investment Group 