Intraday Market Thoughts

Which GBP Trade Ahead of GDP?

by Ashraf Laidi
Feb 25, 2015 19:38

Wednesday's release of the UK Q2 GDP revisions is raising the usual debate as to whether the figures will be revised from the initial release of 0.4% q/q and 2.7% y/y. Some analysts are already talking of overbought momentum in GBP pairs, but the subsequent release of the all-important US CPI and durable goods orders later in the day could rebalance momentum in GBUSD. Or will it? Trading a GBP cross other than cable is an alternative -- such as GBPCAD, GBPJPY or EURGBP. Our Premium subscribers have just received today's new GBP trade with 2 important charts, laying out the technical and fundamental arguments for the trade plan. Our 2 existing USDCAD shorts are currently netting a total of +280 pips, while the two AUDNZD shorts  are up a net +160 pips. Both GBPUSD longs are in the green, with a total of 260 pips. Click on here for today's chart & trade.

Act Exp Prev GMT
GDP (Q4) (q/q) [P]
0.5% 0.7% Feb 26 9:30
GDP (Q4) (y/y) [P]
2.7% 2.7% Feb 26 9:30
Durable Goods Orders (JAN)
1.9% -3.4% Feb 26 13:30
Durable Goods Orders ex Transportation (JAN)
0.5% -0.8% Feb 26 13:30

Latest IMTs