Tuesday, June 8, 2010

GBP/USD: 70 pips

Shorted GBP/USD at GMT8:38 today with target of 70 pips which were achieved in less than an hour later. This relative fast movement was caused by news of debt concern after Fitch warned about the "formidable" challenge UK is facing and advised Prime Minister Cameron to accelerate its plans to reduce the country's budget deficit.

Later also shorted EUR/USD however only closed the trade with 4 pips gain after it showed resilient at the support area. That's all for today. Hope to maintain the winning form.

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