A small trade.. as NZD retraces.. GBP stall. This is a good opportunity to short. I will try to get out before the data release because I think it will be positive for the pound.
Trade closed: stop reached:
I am bullish GBP..but I shorted GBPNZD because I am long all the rest of the GBPs. I was expected to get stopped out when the news came out. Looks like it came early.
Please see comments on UK data this morning. One of the risks to the trade was UK shopping prices. It was one of the LARGEST DROPS on record last month. So, what happened today for me was expected and a potential risk. And that is what we got. So, everything is ok. The best thing I am doing now is holding my US Dollar longs and keeping an eye on UK data, which has been the hardest to manage and predict since the BREXIT. I said that I will wait another month ago to start predicting the data. I am actually better at risk assessment now..