July Trade # 6 - BUY GBP/USD

7/30/2009 5:40 pm (Manila)

Unfortunately, trade got stopped out at -75 pips/lot for a total of -300 pips.

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7/29/2009 9:05 am (Manila)

BUY GBP/USD @ 1.6455
Stop - 1.6380
Limit 1 - 1.6485
Limit 2 - 1.6546

At 4:30 pm (Manila), UK Net Lending to Individuals and Mortgage Approvals come out and are expected to be positive for the Pound. This could be indicative that individuals in the UK can now afford to have loans which is a sign of improvement in an economy.