Profit: $21.86 Total: $1,300.04
Mark your calendars because the Brexit EU referendum is on June 23. Traders and analysts are looking at polls and even bookie sites to see where the current sentiment is. Due to the constant change in the Brexit voting, this is driving the pound in vigorous movements. Price action for the GBP/USD was ugly but if you were on the right side, it could’ve been a great scalp.
Before the pound went crazy, I placed an early long GBP/JPY trade pre-NY opening. In a matter of minutes the pair yield over 100 pips which I caught. In total it went as high as 200 pips but then settled below as the voting for in/out constantly changed. Ultimately I don’t see a Brexit happening, but currently, polls are showing a lead in the leave. Although I was lucky with the pound today, I’m planning not to touch it unless there’s some great structures. Whatever future Britain may hold, expect some wild moves before and after the voting.