Early in the U.S. session the GBPUSD attempted to move above its Asian session high and failed. After it began moving down, a short was taken risking 15 pips for a potential 117 pips to our daily target at 1.3052. Price continued downward then bounced at its Asian session low where it began to find buyers.
This trade although very risky due to the GBPUSD’s potential for extreme volatility, became less so by moving the stop loss down with almost every candle…thereby locking in profit.
Although the USD strength took a breather today, gold was also off, as was oil. Equities and bond yields moved marginally higher
The trading signals have been a little mixed this week.
Good luck with your trading!
