Being long GBP... can't exactly say I've been making a "fortune." According to http://news.google.com/nwshp?hl=en&...=10000102&sid=azJATdGfpPRU&refer=uk&scoring=d and http://news.yahoo.com/i/732;_ylt=As3tVc3XlHTEY5cHVIn9zhdvaA8F;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl general consensus is pointing to terrorism. News and the running herd is allowing me to get slightly better positioning on the GBP. Though minor, I will sustain additional losses if it continues plunging.
true ... however ... some pros who have long memories made a fortune already overnight selling e minis or buying gold or us treasuries or the euro / cable cross on the news out of UK ( no position )
buy buy buy the excitement is over and now people will realise that value of us stocks and foreign currency hasnt really changed in value.
Well, my concern would be if this is just the beginning of ongoing, prolonged and coordinated terrorist strikes against the UK, perhaps continuing for the next 24 hours or so. The GBP would lose 5+ cents. You can see the event unfolding on a 5-second, 1-minute and 5-minute chart set-up.