July Trade # 2 - BUY GBP/USD

July 1, 2009 4;19 pm (Manila)

Well, fate had its way and the second half just got taken out at breakeven. There you go, can't win them all.

Wonderful trade still.

Summary for this trade:

1st Half: +90 pips
2nd Half: 0 pips

Total: +90 pips

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July 1, 2009 3:44 pm (Manila)

First half is out at +30 pips a lot for a total of +90 pips.

Second half stops moved to breakeven. Trade is now risk-free. Will let fate decide the outcome of this trade.

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July 1, 2009 2:45 pm (Manila)

BUY GBP/USD @ 1.6333 (6 lots)
Stop - 1.6370
Limit 1 - 1.6363
Limit 2 - 1.6500

At 4:30 pm today, UK Manufacturing PMI will come which is expected to show improvement from previous report. This should be bullish for the Pound.

This is a survey of Purchasing Managers who are asked to rate the relative level of business conditions. Since these Purchasing Managers hold the purse, they hold probably the most current and relevant insight into their company's view of the economy.