Tuesday, June 16, 2009

June Trade # 21 - SELL GBP/USD

June 16, 2009 8:30 am (Manila)

Both halves are out on strong dollar rally.

Summary for this trade:

1st half: +60 pips
2nd half: +132 pips

Total: +192 pips

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June 16, 2009 7:05 am (Manila)

SELL GBP/USD @ 1.6292
Stop - 1.6353
Limit 1 - 1.6262
Limit 2 - 1.6226

This afternoon, 4:30 pm, UK CPI data comes out which is expected to print out bearish for the Pound. Plus, the weekends comments by the CIB and the G8 Meeting will continue to reverberate and batter this pair down.

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