Canceled due to too much USD short exposure.
The former 50% retracement of 1.5722-1.3501 is 1.4611, and 1.4600 has a good history behind it in general.
Just watch out for spastic sell-offs as cable is, in general, considered 'overbought' at the current range and a couple hundred pips can be a walk in the park for this pair.
1.4580 is the local low so I would be alert for that, as well, in the event of spikes lower.
And if it wants to take it out alltogether, my next area long would be in the 1.4380 area.
Same rules as always.
Long GBP/USD 1.4612-1.4602
2009-04-16T02:36:00-04:00
Just call me Steve
Blog|Canceled Trades|



