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Jul 3rd 2007

PeterB’s Daily View On Cable - 3rd July 07

PeterB GBPUSD, forex signals 1 year, 4 months ago
Tags: Daily Cable, GBPUSD, Pound.

Hi all,

My name is PeterB and I’ve been trading the cable for quite some time now and thoughts it might be a good idea to post some of my thaughts for the pound. So I’ll popin here daily and post my trades for the day. I’ll be posting at around 7am my time thats, GMT -2 at this stage.

my position/s for today are:-

2,0172. GBP USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. pound is bullish atm. The uptrend should continue to gather momentum.
I will take a long position at around 2,0170.

I will put the stop loss below 2,0140 (-30 pips).

The targets are 2,0210 (+40 pips)

Every trade is Risky, take care and use your stop loss. Especially at these levels, I would reccommend trading with small lots or not more than 1% of your portfolio. It seems that the market is buying the cable on the roumer (BoE interest rate hike) this week, and there’s a chance that it will sell on the fact, so we could see a retrace after the release.

Happy trading.

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4 Responses to “PeterB’s Daily View On Cable - 3rd July 07”

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1 Optional Jul 3rd, 2007 at 2:14 pm

Sounds good PeterB… I’m on today and might follow you with a small ‘wager’ each day… the planned timing of your post suits me perfectly.