Missed Trade: GBPUSD Previous High

Published on Wednesday July 7th, 2010 at 12:04AM by keicadelina

Check out GBPUSD's bounce from the previous day high! That would've been a nice day trade. The problem was, the pair's rally was so strong lately that it seemed that the pair would bust through 1.5200. Besides, dollar weakness is the current theme and I didn't want to go against the grain.

  • 4 comments
  • Go to IamXavi's profile

    On Wednesday July 7th, 2010 at 03:31AM by IamXavi -

    that's my trade! but I'm breakeven now as I feel it too risky if it test 1.52 again.
  • Go to keicadelina's profile

    On Wednesday July 7th, 2010 at 03:34AM by keicadelina -

    Wow, lucky you! Watch out for those double bottoms around 1.5100 though. The broken neckline of that formation could act as support and push the pair higher. Good luck on your trade!
  • Go to IamXavi's profile

    On Wednesday July 7th, 2010 at 05:33PM by IamXavi -

    Thanks Kei, I was aware of the risk, too bad it went up as I made breakeven!
  • Go to UKpipnit's profile

    On Wednesday July 7th, 2010 at 08:58PM by UKpipnit -

    Hey Kei. The bounce I was waiting for was of Res at 1.5225 not 1.5275 (Typo, I have fat fingers lol).I'm short again from here tonight. Can't C retrace down to 1.5050 fib anymore though, so will be happy with a few pips. As far as 1.5225 goes, I can't C that being broken until Friday but I will be long if it does. Good Look!

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