Cable gain evaporate in fall below May highs

The cold feet trade is back on

Buying GBP/USD at this time last week when England was losing 1-0 to Wales was one of the best trades of the year.

Why risk staying long through the vote when you can take an 800 pip profit now?

That might be the message from the now-300 pip swandive from the highs today.

The important technical takeaway is that we're back below the May highs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.