Judging from the market sentiment that developed overnight. I've added a short position on the Cable.
On Cable, I'm planning to keep this trade running into the new year, and add positions to it if it goes up. I'm looking at that 1.13 to 1.15 level by end-Q1 '23.
Now, I've also have that GBPJPY trade running concurrently. This one is more on trading the yen movements. My USDJPY short is still running. Expected it to stay that way into 2023. Ideally, when I short the Pound, what I would usually do, is to hedge it against the Euro. That means, I might enter a short trade on the EURGBP pair, just for the sake of hedging out volatility that may arise during the Christmas to mid-Jan weeks.
On Cable, I'm planning to keep this trade running into the new year, and add positions to it if it goes up. I'm looking at that 1.13 to 1.15 level by end-Q1 '23.
Now, I've also have that GBPJPY trade running concurrently. This one is more on trading the yen movements. My USDJPY short is still running. Expected it to stay that way into 2023. Ideally, when I short the Pound, what I would usually do, is to hedge it against the Euro. That means, I might enter a short trade on the EURGBP pair, just for the sake of hedging out volatility that may arise during the Christmas to mid-Jan weeks.
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