Trade Alert: July 24th – Stop Pounding

On June 11th, we got traded British Pound on the long side against US Dollar in our long British Pound in June strategy, when the currency pair was at 1.67900. On June 27th we added to that position at 1.7073. The exit window for this strategy opened up in mid-July and we exited one lot on July 16th at 1.71380. We closed the second lot on July 21st at 1.70730.

By July 23rd close, the pair has broken below a horizontal channel. This is a good time to exit the remaining lots.

  • Exit GBP/USD (spot) at or near 1.70390
  • Exit FXB at or near 167.58

For the year, the four spot lost in this strategy produced an average gain of 588 PIPs. The ETFF, FXB returned 2.1%.


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