01 March 2013

GBP/USD : Increased Short at 1.5033

  • Might seem that cable has declined a long way already. But charts suggest it's early days yet (especially the weekly).
  • Have squared up short EUR/USD completely. Switched the risk limits into cable and copper where both sell signals are fresh, more potential and better risk reward with clear exits.
  • Trade : Increased GBP/USD short at 1.5033, and May Copper at 349.15.
  • News : UK Mfg PMI 47.8 vs E 51.0. Talk of more BOE QE next week.
  • PS : USD/JPY lifted now by general USD buying. Great selling opportunity. Risk Off will take precedence and USD/JPY will go lower still.

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