FX_IDC:GBPUSD   British Pound / U.S. Dollar
Short 1/8
Trade closed manually: Expect retrace back to gap @1.29 range
Comment: Continue short below 1.282

Comments

Bank of England data released revealed a net outflow of £17.153 billion from foreigners in July, the largest since records began in 1982, Reuters reports. Even in June, there was still net capital investment from foreigners of 1.362 billion pounds. The decline in foreigners’ holdings is due to sales as well as to non-reinvested, expiring, bonds. According to International Monetary Fund data, the UK has the largest current account deficit of the major industrial nations and is heavily dependent on foreign capital inflows. Chairman Maoy’s refusal to stand firm and defend the people’s vote has seriously undermined the confidence in Britain.
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