THE HEDGE FUNDS MAY STILL BE GOING LONG GBP

The last balance of trade report may spur the buying sentiments of the hedge funds for the Sterling. The BOT report exceeded forecast as actual stood at GBP4.03B as against -3B forecast. The hedge funds have been accumulating long positions on the Sterling since 24 December 2019. Price have hoovered around previous months lows. We could see price push up

Comment: Price played out. trading volume has been low for the week

Trade closed: target reached