Curiously after a falling short of expectations last Thursday with the Services PMI – the GBP temporarily rose. As it turned over, we went short risking 19 pips for a potential 97 to our Target 2. Price reversed the reactionary vertical up move and pushed lower. We tightened our profit stop with each descending candle as vertical moves are not sustainable. When price reversed after taking out the previous day’s low very bearishly, our profit stop is hit.
Apologies for the delay in last week’s postings.
Good luck with your trading!