June 25, 2008

Selling GBPUSD Ahead of US GDP

About 3 hours after FOMC meeting I think it has been mostly priced in the market. I decided to buy dollar against British pound at 1.9745 and increase the size if technical data become more supportive.

(The Blogger was inaccessible at the time and this post has been added later)
Posted by Davod Qasimi at 4:31 PM
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2 comments:

  1. Davod QasimiJune 26, 2008 at 5:49 PM

    I was unaware of the MPC testimony at Treasury Committee. Emphasis on inflation helps sterling to pass resistances today. The assessment was wrong but I made profit by managing the size of the position. (details in the next post)

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  2. Davod QasimiJune 26, 2008 at 6:06 PM

    There was a dolor-selling sentiment today triggered by the comments from Libya oil minister on the possibility of both 170 $/barrel in summer and cutting production in response to US-led lawsuit against OPEC 's interests. Oil passed 140$/b in New York and US indexes plunged about 3 percent in a worst June since Great Depression.

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