GBPUSD having another up and down session 23 Jan
I'm just stepping back for 10 mins to give Greg a break so a chance to give a quick update on a pair dear to my heart as you know.
GBPUSD now running into support/bids arpound 1.3965 to post 1.3983 after failing into 1.4030 earlier. The order board had offers at 1.4030 with larger interest behind into 1.4050 so has played out nicely.
I said in my earlier post I'd be looking to re-sell previous shorts around 1.4000 that I'd covered down at levels to 1.3920 and I duly did, taking advantage of the spike to 1.4020. In true jobbing tradition and always a preacher of "don't be greedy" in these markets I've taken some money off the table in this dip but have kept some of the shorts given it's risk/reward value.
Good trading opportunities today for both buyers and sellers and what's not to like about that? I still say we're going nowhere far in a hurry anytime soon. Good pips to be had though meanwhile.
See you all tomorrow for more fun and games in the wonderfully fickle world of forex.
