How to hedge GBP

Six hours until the preliminary results of the Scottish Referendum start emerging from Scotland's 32 regions, GBP accumulates fresh upside against all currencies after all, but one poll show majority for the 'No' camp. GBPUSD nears the top of its 2-month trendline resistance and GBPJPY hits a fresh 6-year high. Holding two GBP shorts in our Premium trades, we added 2 GBP trades to hedge those positions ahead of what promises to be a volatile 5-7 hours. Reflecting recent stabilisation, GBPUSD 1 month call options have fallen for two straight days. Meanwhile, our Premium trades in NZDUSD, USDCHF and NZDCAD have all hit their final targets over the past 24 hours, with an average gain of 170 pips per trade. The latest trades and charts are found in the Premium Insights.