The real GBP/USD trend
As it is topical I decided to take a look at the strength of the pound (GBP) using a monthly bar chart myself. Each bar is a month of price action (red down/green up). I've marked out major UK events on the chart for info as well.
Basically if you took a bet against the pound (in effect the UK economy) in 2008 and held your position until now, you would be in the highest profit ever today. Same is true if you traded when the Tory government took over. Same is true if you traded on the day of the Brexit referendum. Same is true if you traded on the day Liz Truss took office.
Having done a slapdash trade calculation - if you risked a $250 trade on the day of the Brexit Referendum, you would be over $4500 in profit now. Imagine if you placed a £10m trade!
As a Tory donor recently stated "betting against the UK currency is the gift that keeps on giving!.
Basically if you took a bet against the pound (in effect the UK economy) in 2008 and held your position until now, you would be in the highest profit ever today. Same is true if you traded when the Tory government took over. Same is true if you traded on the day of the Brexit referendum. Same is true if you traded on the day Liz Truss took office.
Having done a slapdash trade calculation - if you risked a $250 trade on the day of the Brexit Referendum, you would be over $4500 in profit now. Imagine if you placed a £10m trade!
As a Tory donor recently stated "betting against the UK currency is the gift that keeps on giving!.
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