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Sam Boughedda


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Hi Sam

Im currently neutral on this pair (partly because it has stopped me out a couple of times when trying to sell it!!!!). I did initially have a sell side bias but was maybe a little early. I think technically it can definitely get down there. 

However, I am a macro trader and one thing that concerns me is the amount of risk in the market at the moment. If we start to see a sell off in stocks again, then risk currencies will be sold off. And, as the GBP is acting as a beta currency I would expect it to sell off in times of risk off scenarios. Therefore, although I have an overall bullish view for the GBP and definitely think it can get back down to .84 and even lower at some point, I am reluctant to sell it now just due to the current market environment. 

I would mention, however, that you have to trade what you see and if you feel it will fall lower then you should trust your own trading rules and strategyfirst and foremost. 

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