Cable was behaving very bullish and in retrospect I think I should have cut the short earlier, but I decided to stay with my system rules and wait till it decisively generated a signal. My reading of the British economy is that it is definitely showing strength and should be very supportive of a stronger pound.
Here’s the transaction:
Closed GBPUSD short at 1.5489, -29 pips.
New long $4/pip GBPUSD at 1.5489, SL 1.5439.