FOREX GBP/USD 16th January 08 part 2


GBP rising above the 5-day 50% level and heading back towards Tuesday’s breakout of 1.96390…

I have no idea how things will re-act around yesterday’s breakout, but any upside moves are back towards Wednesday’s highs….

Long on break @ 1.9608

Partial exit @ 1.9632 and holding

Run stops below 1.96000 or breakeven from entry, and hopefully it doesn’t stop and heads upwards…

Obviously a failure and move back under the 5-day 50% level and trading longs is open to Risk..