GBP/CAD: Long @ 1.8287 Up 300 Pips

Well my opportunity for a re-entry into the GBP/CAD trade came after the BoE rate decision. looking at the chart shows a sell off or "fleeing" from the Pound right up to the rate decision and soon after a total rebound. I found my entry at 1.8287. Currently it's up by 300 pips so I have locked in a profitable stop at 1.8387 to lock in 100 pips - not to bad for a few hours of inconvenience staying awake early/late enough to catch the announcement paid off.

I entered this trade with a 200 pip stop loss at first, to give it some breathing room to mature. Turns out it never even came close to the stop.

I'll let it ride out to see if the GBP will head towards 2.00 Given the state of the Canadian Economy many feel is heading towards recession of which Ontario is already in one.

This could be a good trade considering the Canadian Unemployment report comes out on Friday and could show a large loss of jobs which should weaken the CAD - Good for this trade we'll see if I can stay in it.