Finally my GBPUSD trade plan has played out. I was hoping negotiations would have steered the market earlier in late November, however it seemed London was pricing in a positive outcome way too early.
We’ve had very difficult trading conditions since 20th November and my strategy has been pulled from pillar to post managing margin whilst opening and closing hedged positions depending on participant sentiment. This was much easier pre-ESMA rules!
As we move into crunch time I’m locking in profits on this setup that I have been stalking since October. I may end up giving some back to the market but I’m trading it as best as I can. Hold on!