Forex GBP/USD 2nd Jan 2008 part 4
GBP still trading above the 3-day lows, and my view is still for price to rise upwards towards the 5-day 50% level and hopefully to continue higher.....
My earlier trade was stopped out, but with the push down and then hook back above support I've re-entered with the expectation that price is moving higher.
Re-entry 1.9857 (stops 1.9831)
Partial exit will be the around the 90 pip high (1.9093), with stops moved to breakeven from entry and then hopefully it can continue higher..
Posted by
Frank Dilernia