After seeing the sharp retreat from 1.2988 last week, we took the view that a temporary top has possibly been formed, so a short position was entered at 1.2900 and although the pair did fall to 1.2844, renewed buying interest emerged there and has rebounded, the position was stopped at 1.2935.
No position was entered among other currency pairs.
In short, only 1 position was entered among all 4 currency pairs with total loss of 35 points and the position is listed below:
12 May : GBP/USD – Short at 1.2900, exited at 1.2935 (- 35 points)
| JPY EUR CHF GBP
Jan + 167 – 85 – 10 + 50
Feb + 200 +150 +93 – 59
Mar -23 -70 -23 – 35
Apr + 65 + 93 + 50 – 40
May + 5 – 35
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Y-T-D + 413 + 83 +110 -119
