GBPUSD: Closed and reversed at 1.5060, +70 pips

16.05 bst

1.5034 is a support from a low a few weeks back and I expect a bounce here. In line with my revised rules of trading off significant Support/Resistance levels, I have  therefore closed the GBPUSD short and gone long here with a tight stop.

GBPUSD: closed at 1.5060, +70 pips.

Now long $20/pip GBPUSD at 1.5060, stop at 1.5040.

Edit 16.12:

Stopped out at 1.5042, -18 pips.

I guess I’ll wait a little more before judging if a long is appropriate here.

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