Well the momentum is clearly against the GBP still and the continued up trend for EUR/GBP continues and is currently up +70 pips from the trade taken two days ago. The trade is still 20 pips away from its targeted exit point @ 75.95 in which it is approaching its previous all-time high.

I took another trade to capitalize on the GBP downward spiral with a short on the GBP/NZD pair on the Daily chart and I am aiming for +300 pips. Here’s the chart of the action:

GBP-NZD-Daily, Feb. 20, 2008




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