Reason for entering: EUR still in a downtrend and GBP on this day (02/01/2015) experienced some bad data. Entered trade at 0.78165 with stop placed above the 200 MA (0.78298).
First target price is back at a retracement level hitting the down channel, but I am hoping for that to continue south and will trail with a Stop Loss (20 pips) once first target is hit.
When first target is hit I will sell half my position.
Currently in a losing position while typing this trade so hoping for a quick turn around to the south side!