Tuesday, July 05, 2011

GBPUSD Follow Up

The market decided to screw me shortly after my last post. GBPUSD turned sharply after the PMI release. I decided to get out of the market during this pullback from euro session high just now. It could return to test the support level but I didn't like my level of exposure. You gotta trade the plan right?

My next move is to short cable again if the support breaks (grey area). 1.6127 will be my risk level while my target remain the same (see previous post).

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