Unfazed by my loss overnight, I am re-entering a short position on GBP/USD. I am still of the opinion that the correction for the Cable's recent rally is not done yet. RBA slashed the interest rates to 3.25% catching up with RBNZ. Obama warns of more bank failures.
Update 1
The Cable swings wildly and the trend seems unclear. I decide to take a early profit of 56 pips at 1.4194 and closed the trade. This pair is definitely worth visiting again. So do not be surprised if I enter another position this week.
Monday, February 2, 2009
GBP/USD (Short... again???)
Posted by Dominic at 8:16 PM
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