Roll Over, British Pound! Going Short Two Contracts

A jolly good day to you, dear reader chap. This morning, over tea and biscuits, I posed the following query to myself:

Q: What’s better than one short British Pound contract?

A: Well that’s easy, my good man – the answer is TWO short British Pound contracts.

Check out this chart – is this dog waking up anytime soon?

Look, George Soros made $1 Billion shorting the British Pound in his most famous trade – I’ve got some catching up to do!

Further reading:

• FX Street: How Much Lower Can the Sterling Slide?
• “The news for sterling has gone from bad to worse,” said Ian Stannard, a currencies strategist at BNP Paribas in London. He said that the pound could test resistance at $1.8180 area “before a corrective rebound develops,” as sterling catches up with the dollar’s recent move lower.