OCTOBER TRADE #1 - SELL GBP/USD

Second half is out at breakeven.

Summary for this trade:

1st Half: +240 pips
2nd Half: 0 pips

Total: +240 pips

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Oct 26, 2009 1:06pm (Manila)

1st Half is out at +120 pips/lot for a total of +240 pips. REst are secured and risk-free with stops moved to breakeven.

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Ending the week with this trade up +62 pips/lot.

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Oct 23, 2009 6pm (Manila)

SELL GBP/USD @ 1.6373
STOP - 1.6701
LIMIT 1 - 1.6253
LIMIT 2 - 1.6102

GBP gets a pounding after disappointing GDP data for the UK. I expect this to reverberate early on next week. On the daily chart, the pair looks primed for a correction which could last 2-3 days.