UK GDP Data
July result made GBPUSD very volatile approaching news time as shown in the attached chart. If you traded this news last month, chances are your straddle are all screwed up. I do not know what is the situation on this day to cause such a volatility.
June's result was better. It caused a nice consolidation and then a good 30 pips upsurge.
May result was not as pronounced. It did not cause any surge but a slow and steady trend..
I am not satisfied with the historic charts. It suggests either a big possibility of loss or a heart attack not knowing what is happening in UK. BTW. the GDP results were mostly flat from the consensus. Consensus were very accurate deviating no more than 0.2 - so expect not much action. Understand that GDP data is merely a summary of other numbers such as housing, motor sales, employments etc.. These are already reported and factored in several days ahead. Actions/expectations should be muted unless, somehow, the GDP statistician miscalculated.
Recommended Strategy: Stay away; there are more worthy news to trade. If you have the guts, or simply trade-the-news-hungry, thengo for it.
July result made GBPUSD very volatile approaching news time as shown in the attached chart. If you traded this news last month, chances are your straddle are all screwed up. I do not know what is the situation on this day to cause such a volatility.
June's result was better. It caused a nice consolidation and then a good 30 pips upsurge.
May result was not as pronounced. It did not cause any surge but a slow and steady trend..
I am not satisfied with the historic charts. It suggests either a big possibility of loss or a heart attack not knowing what is happening in UK. BTW. the GDP results were mostly flat from the consensus. Consensus were very accurate deviating no more than 0.2 - so expect not much action. Understand that GDP data is merely a summary of other numbers such as housing, motor sales, employments etc.. These are already reported and factored in several days ahead. Actions/expectations should be muted unless, somehow, the GDP statistician miscalculated.
Recommended Strategy: Stay away; there are more worthy news to trade. If you have the guts, or simply trade-the-news-hungry, thengo for it.
Attached Images
