GBPUSD: stopped out for -2%.

5.41 gmt

My trial long GBPUSD level was hit, and soon after the stop was also hit.

As usual I am too early with this trade idea. I’ve missed the big move down so I can’t think about going short right now. Very rarely, a pair will bounce straight off support and then you know that the support is very strong and the bounce will be big. But markets like to consolidate before a bounce, if they bounce. Now that GBP has clearly broken this  strong support, we will have to wait for a consolidation at some new support, yet to be determined, before there is a bounce.

Long $100/pip GBPUSD at 1.5210. Stopped out at 1.5175 for -35 pips, -2.1% loss.


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