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GBP/USD Big Trade 03.10.2016 – Stopped
3/11 -- Stopped out
GBP/USD is worthy of a punt -- 1/2 position unless you’re brave!
BK -- GBP/USD Big Trade
SELL GBP/USD at 1.4220
Stop at 1.4420
The bold actions from the RBNZ and ECB should make the Bank of England more cautious about inflation and the global economy. Interest rate cuts are not expected from BoE but between Brexit risks, Carney’s concerns and ECB/RBNZ actions, we think the BoE will be less hawkish, paving the way for losses in GBP/USD. EUR/USD is tough to trade at these levels and perhaps the “next opportunity” will be GBP.