Apr 17, 2013
Forex Flash: Out of short EUR/GBP into long GBP/USD
FXstreet.com (Barcelona) - The Westpac FX Team is reporting to be out of its short EUR/GBP and has now opened a fresh long on GBP/USD. According to the bank, "we have run with a positive bias on GBP for some time now, having chosen to hold this via short EUR/GBP", however, they just hit their trailing stop (0.8585) for a +2% profit. They add that "on April 11 we recommended rolling from short EUR/GBP into long GBP at 1.5333 and adding on dips to 1.5270 which was hit yesterday."