UPDATE: Rate hike fever did not weigh on GBPCAD
The original trade idea expected that US rate hike concerns would drive GBPCAD lower. They didn't. Instead, GBPUSD rallied as more weak short positions got squeezed while weak Canadian data and soft oil prices lifted USDCAD.
This idea was flawed to start with. The technical and fundamental rationale for the trade was weak and once again, anticipating a move without confirmation proved to be expensive.
The stop loss was triggered for a loss of .0067 points.
Original Trade idea parameters
Sell ½ GBPCAD at market (1.7020) balance 1.7060
Time horizon: 5 days.
— Edited by Martin O'Rourke
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