Update re GBP USD short trade. Initial analysis here:
http://market-trading-ideas.blogspot.com/2009/10/gbp-usd-short-opportunity.html
The GBP USD short trade analysed on 08.10.09 turned into a good profit during the first day (+200 pips by now). On Monday the pair traded lower during the first hours of the London session and reversed immediately. Since then the pair is trading in a narrow range between 1.5780 and 1.5830. I moved the Stop Loss to 1.5950 to secure some profits.
Important economic data, which will be released on Wednesday and Thursday this week, might act as a catalyst to push the pair significantly lower. However, the event risks also have the possibility to move the price against the trade.
http://market-trading-ideas.blogspot.com/2009/10/gbp-usd-short-opportunity.html
The GBP USD short trade analysed on 08.10.09 turned into a good profit during the first day (+200 pips by now). On Monday the pair traded lower during the first hours of the London session and reversed immediately. Since then the pair is trading in a narrow range between 1.5780 and 1.5830. I moved the Stop Loss to 1.5950 to secure some profits.
Important economic data, which will be released on Wednesday and Thursday this week, might act as a catalyst to push the pair significantly lower. However, the event risks also have the possibility to move the price against the trade.
- Jobless Claims Change UK, GMT 08:30 AM, Wed 14.10.09
- Advance Retail Sales United States, GMT 12:30 AM, Wed 14.10.09
- Import Price Index United States, GMT 12:30 AM, Wed 14.10.09
- USD FOMC Meeting Minutes, GMT 18:00 AM, Wed 14.10.09
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