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Oct 07 - 02:55 PM

GBP/USD: It Was Premature To Establish New Short GBP/USD exposure - MUFG

By eFXdata  —  Oct 07 - 01:30 PM

MUFG Research reacts to its latest GBP/USD short ToTW position which hit its 1.1450 stop earlier this week.

"We have closed our short cable trade idea after the stop-loss was hit earlier this week," MUFG notes. 

"We underestimated the scope for the GBP to extend its rebound, and our recommendation to re-establish short GBP exposure proved premature," MUFG adds. 

Source:
MUFG Research/Market Commentary

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