Rocketman
Short

GBPUSD: "Project Re-Short" - Donation to the UK

FX:GBPUSD   British Pound / U.S. Dollar
79 0 5
I just re-shorted the GBPUSD             pair.

Fundamental Reason:
I expect the UK to cut rates this week or do some QE . Anything to help their economy, whatever it is...a lower UK dollar will benefit them.

Thus, let's all help the UK's currency go lower so that with a lower currency it will help their business thrive. Lol!!!

My stops are above the previous high. and my target is around 1.28, 1.27 and 1.25.
Comment: Oh.. and if I am stopped out before the rate decision.. I will re-short again at 1.3645 or lower.
Comment: The news will make or break this trade:
http://www.911myths.com/html/jamie_mcintyre_and_the_pentago.html
Comment: wrong link! Here:
Comment: GBPUSD is kicking my butt, but it is fine. I have another position to enter short.

Plan: Short at or below alternate sell zone BEFORE THURSDAY on the assumption that the UK will lower rates. If I am right and it goes my way, then hold SHORT GBPUSD and ride it down. If I am wrong and the UK raises rates or does nothing, and the reaction after a day is positive, then exit trade and re-evaluate.

I still am short part of GBPUSD... shaved off some risk.

Comment:
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