BK GBP/USD Big Trade 01.27.2016 – Canceled

BK GBP/USD Big Trade

1. CANCEL NZD/USD Order -- We’ll reevaluate post RBNZ

2. New GBP/USD Order

Aggressive

Place Order to SELL GBP/USD at 1.4380

Stop 1.4580

Conservative

Place Order to SELL GBP/USD at 1.4440

Stop 1.4640

We have strong reasons to believe that tomorrow’s UK GDP numbers will be weak with retail sales and trade activity deteriorating significantly in the fourth quarter. Also BoE Governor Carney has been consistently dovish, confirming our view that the UK central bank will leave interest rates unchanged for most of the year. The earliest we can possibly hope for a rate hike would be in Q4 and even then, it would require a significant recovery in oil prices.

Swing

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