Which GBP Trade Ahead of GDP?
Wednesday's release of the UK Q2 GDP revisions is raising the usual debate as to whether the figures will be revised from the initial release of 0.4% q/q and 2.7% y/y. Some analysts are already talking of overbought momentum in GBP pairs, but the subsequent release of the all-important US CPI and durable goods orders later in the day could rebalance momentum in GBUSD. Or will it? Trading a GBP cross other than cable is an alternative -- such as GBPCAD, GBPJPY or EURGBP. Our Premium subscribers have just received today's new GBP trade with 2 important charts, laying out the technical and fundamental arguments for the trade plan. Our 2 existing USDCAD shorts are currently netting a total of +280 pips, while the two AUDNZD shorts are up a net +160 pips. Both GBPUSD longs are in the green, with a total of 260 pips. Click on here for today's chart & trade.
|GDP (Q4) (q/q) [P]|
|0.5%||0.7%||Feb 26 9:30|
|GDP (Q4) (y/y) [P]|
|2.7%||2.7%||Feb 26 9:30|
|Durable Goods Orders (JAN)|
|1.9%||-3.4%||Feb 26 13:30|
|Durable Goods Orders ex Transportation (JAN)|
|0.5%||-0.8%||Feb 26 13:30|
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