British Pound Long Inside the Channel to Previous Highs

FX:GBPUSD   British Pound / U.S. Dollar
This is a what I call a common sense trade, meaning that your just dealing with the notion that the GBP/USD             should go up to at least 1.58 or its previous high. Thats about 300 pips or points and with a tight stop right outside the channel its a good in terms of money management. Since its on the Daily chart you could consider this a long term trade but really This will probably hit within the next week or so. We're also not dealing with the Euro             and all the different news events coming out. The GBP/USD             is usually always cyclical and technically sound.
Daniel Alhanti
President, Head Trader
The Foreign Exchange Trading Academy, LLC
48 Wall Street, 11th Floor, NY, NY 10005
1-877-828-0062 ext`1
I meant to say it's good in terms of money management or risk reward... As you can see it's now moving up along the channel and this may be a good time to pocket 100 pips or so
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