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Stay short GBPUSD, move stop lower

Stay short GBPUSD, move stop lower

2011-03-10 16:00:00
David Rodriguez, Head of Business Development
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Call it luck or what you will, but our recent GBPUSD trade couldn't have really been timed much better and is panning out far better than I could have hoped.

To recap, I called for a short right around the 1.6200 mark as of Tuesday with a stop against the high. The pair has since considerably moved in our favor and it makes a lot more sense to move stops to just worse than breakeven above recent spike-highs at 1.6200. If this is really the break I've been waiting for, it doesn't make sense to take profits for a little bit and I'll leave the full position on until further notice.

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