Tradingthechannel
Long

Trade update: Long GBP/USD 4HR

FX:GBPUSD   British Pound / U.S. Dollar
Hi

The original post is hidden because I advertised our website. Please find the trade update below.

Original post:
We've seen an stronger GBP after EU negotiator Barnier said a Brexit deal could happen in the next 6-8 weeks. This is good news for the GBP. Our first two requirements for a long entry has been triggered and the final one is for the price to trade at 1.3068. Our entry is higher than the previous high at 1.3043 which also helps. Trailing at 132 points but we will adjust this as we trade. Our first profit target is at 1.3134 for a partial close.


23 hours ago
Comment: We have the BOE meeting coming up in the next few hours it would be very wise of you to assess your risk appetite. I do not expect any fireworks but it may be worth taking some risk off the table i.e close a part of the position. However if you feel you can handle a bit of volatility , keep the full trade open but have an eye on the market. We may shoot through our profit target.

We now have reached target and closed half of our position, the market is moving slowly and we may start to hit some resistance in this area. We move our stop to entry and I will keep you posted on our next profit level
Trade closed: stop reached: We close the trade for a small profit
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