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GBP/USD First Target met +30; Close rest at +40

November 10, 2009 - 4:30 am by Forex District · 2 Comments 

GBP/USD reached an intraday low at 1.6604, before rebounding to 1.6680. Our Buy entry was reached at 1.6610 and met our first target at 1.6640 for +30 pips. Stop was be moved to break even and looking for second target at 1.7000.

However, with remarks by a senior official at Fitch Ratings stating that the U.K. is most at risk among major economies of losing its AAA status may prompt further weakness in the pair. Close rest at +40.

View Original Trade HERE!

2_GBPUSD

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Comments

2 Responses to “GBP/USD First Target met +30; Close rest at +40”
  1. Petrie says:
    November 10, 2009 at 3:09 am

    Nice trade… but I see we should have hold it longer. Anyways it was still good thx

  2. forexdistrict says:
    November 10, 2009 at 6:53 am

    Hi Petrie,

    Thanks. Yes we should have let the second lot run longer and keep the stop at break even. The Fitch comments were the reason behind the decision.

    Hopefully we catch a new one soon!

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