GBP/DKK: Long at 7.8517

GBP/DKK Re-Visited!

Ok so I lost twice on this pair but I had a feeling that it would bounce and when I saw it fizzling out momentum I decided to try again and go Long. This pair has moved exceptionally well on the short side and although I never shorted it I should have! No point crying over spilled milk. Again since my last few trades have been very profitable I entered long and allocated several of those profit pips to another long trade knowing that I was full out risking them. Taking risks can pay off as you can see I'm up. For now I'll lock in a profit stop of + 50 pips and wait to see if it heads back up to previous levels. There is way more upside potential on this pair than down side now, unless it tanks again. if it does I'll go long again at a new low level. This is an all time low for the GBP against the DKK and it's uncertain how long the DKK can hold it's gains.