Is Cable’s trend my friend this time? I hope so! Last week I told you about my entry at 1.6468. Well, I decided to double up!
I was watching GBP/USD closely last Friday and I saw that price had finally broken above the 1.6650 area. I decided to move the stop of my first position to break even and open another 0.50% at market (1.6694). Let’s see if the breakout leads to a journey above 1.7000!
Here’s what I have so far:
Position 1: 0.50% at 1.6468 – Moved stop to break even
Position 2: 0.50% at 1.6694 – Placed a 200-pip stop loss
Position 3: 0.50% at 1.6860 – Order placed but not yet triggered
What do you think? Is GBP/USD’s uptrend over or should I hold on to my positions?