Long GBPUSD again, 1.5399

4.55 bst

Cable has broken through its high of yesterday, which is surprising and therefore bullish. I am re-entering the long trade here as follows:

Long $40/pip GBPUSD at 1.5399, SL 1.5349.

The Yen pairs are definitely looking tired and ready to roll over, but I’m afraid to short them over the week-end. Something might be said over the weekend which might move those pairs violently either way on Monday. I’ve already been burnt a few times in the past 6 months by weekend events – Abe election in Dec, Italian elections in Feb, the Cyprus news in March. So I’ve become very cautious over weekends.

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