I just made a post about this pair looking for a long position near my last entry of 1.8250 and within 10 minutes it has reached that level. I took the chance and made another long at 1.8257. I set my stop at 1.8057 200 pips below my entry line. Lets see if I can capture another 500 pips or so.
I'm almost always playing this pair on the long side. I do go short from time to time but I always do it carefully since as you can see with this pair it can really move in very little time. This creates a large potential for profits as well as losses.
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you're probably making a killing on this, but where do you think GBP/USD will head? DailyFX thinks a big rally is in the works
ReplyDeleteThe Pound is heavily oversold and is due for a rebound towards former support / resistance I think somewhere around 160-170 area - The fall from 2 has been drawn out and overdone. That flight from peril the pound experiences in times of trouble. I agree it's ready for a big move back up probably about 1000 - 2000 pips at least.
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