I'm getting very bearish on GBP as the Brexit vote nears ..... I'm already short and with 5 weeks until the vote I plan on adding GBP shorts for the next four weeks then flattening the positions before the referendum. Buy the rumor, sell the fact.
Mark Carney: "Brexit could mean lower growth, higher inflation"
5 reasons why the BOE is so scared of Brexit:
http://www.businessinsider.com/bank-...6-5/?r=AU&IR=T
Brexit risk has fund managers bailing out of the pound, and investors will almost certainly be baulking about sending money to the UK leading up to the vote:
http://www.bloomberg.com/news/articl...-bets-on-pound
UK will hold referendum on leaving/staying in EU on June 23.
"It is more likely than not that the bankrate increases over the forecast period" - BOE, March 17
"Fundamentally bullish, however Brexit concerns continue to provide negative sentiment" - J Davis, April 11
"BOE expects GDP to slow in the first half of 2016 due to Brexit uncertainty" - K Lien, April 14
"April PMI readings for construction, service and manufacturing industries have all hit multi-year lows" - May 11
"BOE holds rate at record low and strengthens Brexit warnings" - Bloomberg, May 12
"Carney stated there is room to lower interest rates if needed" - K Lien, May 12
"Inflation data shows price growth well below BOE's target" - Bloomberg, May 14
Weekly chart of GBP/USD shows longer term downtrend. Since I'm also long term bullish on USD, any shorter term pullbacks on the daily are an easy sell.
Mark Carney: "Brexit could mean lower growth, higher inflation"
Inserted Video
5 reasons why the BOE is so scared of Brexit:
http://www.businessinsider.com/bank-...6-5/?r=AU&IR=T
Brexit risk has fund managers bailing out of the pound, and investors will almost certainly be baulking about sending money to the UK leading up to the vote:
http://www.bloomberg.com/news/articl...-bets-on-pound
UK will hold referendum on leaving/staying in EU on June 23.
"It is more likely than not that the bankrate increases over the forecast period" - BOE, March 17
"Fundamentally bullish, however Brexit concerns continue to provide negative sentiment" - J Davis, April 11
"BOE expects GDP to slow in the first half of 2016 due to Brexit uncertainty" - K Lien, April 14
"April PMI readings for construction, service and manufacturing industries have all hit multi-year lows" - May 11
"BOE holds rate at record low and strengthens Brexit warnings" - Bloomberg, May 12
"Carney stated there is room to lower interest rates if needed" - K Lien, May 12
"Inflation data shows price growth well below BOE's target" - Bloomberg, May 14
Weekly chart of GBP/USD shows longer term downtrend. Since I'm also long term bullish on USD, any shorter term pullbacks on the daily are an easy sell.
si hoc legere scis nimium eruditionis habes
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