The cable has been in a bearish trend for some time now, there's been no fundamental news to break the trend and with the mortgage data coming out at 9.30am today I'm looking for a short trade.
Set my SL at 1.2400, outside of the resistance level on the M30 and allowed 20-30 pips TP around the 1.2340-1.2330 area. Support is at the 1.2317 level. Unless there is some startling good news for the UK motgage sector we should be ok for some profit.
Set my SL at 1.2400, outside of the resistance level on the M30 and allowed 20-30 pips TP around the 1.2340-1.2330 area. Support is at the 1.2317 level. Unless there is some startling good news for the UK motgage sector we should be ok for some profit.