Intraday Market Thoughts

Missed our GBP Trades?

by Ashraf Laidi
Feb 22, 2016 20:23

As GBP takes center stage, I am receiving several tweets and emails of charts showing the technical ugliness of the currency. So I take this chance to highlight to those (who are not subscribers) that we started issuing bearish trades in GBPUSD, GBPAUD, GBPNZD and GBPJPY since September 2015 -- a time when the market was busy with China, US stocks and oil, we sent multiple trades in GBP crosses since early Sept.

Premium subscribers will note that our "bearish GBP" momentum intensifed ahead (not after) the BoE's quarterly inflation report of early November, when GDP and CPI forecasts were dealt a major blow by the BoE's Monetary Policy Committee. Of course, this was at a time when most "big banks" were still forecasting a BoE rate hike in Q1 and Q2 2016.  On December 21 webinar for FXStreet, I reiterated the 3 major reasons for my GBP shorts here.

The rest was history.


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