Patience yesterday is rewarded today. The GBP had a big move up followed by a big move back down. The overnight news was received positively in the markets until the US session began. This is why I love intraday trading… lots of profits to be had in the UK or US session for those that wait for the setups to occur, manage risk, and understand profit targets.
The trading session before the US Non-Farm Employment is usually fairly flat…therefore I never trade it. I also avoid trading the US NFP session.
Enjoy the weekend, the Olympics and see you Tuesday!
Michael
