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Why my GBPJPY trade idea was off target: Van-Petersen

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Kay Van-Petersen, global macro analyst at Saxo Capital Markets, explains his thoughts behind his long GBPJPY trade that didn’t go to plan.

Within 24 hours of the long GBPJPY trade, the move was stopped out (-1.8%) after sailing through 160.00 stop level, after being long from 163.00.

Overnight, the Guardian newspaper published a poll of 3,000 voters that showed a 52-48 split in favour of the UK leaving the EU. But Van-Petersen suspects the result of the Brexit vote on June 23 may be quite different.