It would’ve taken a lot of guts to go long at 1.5150 after seeing the sharp GBP/USD selloff, but it would’ve paid off handsomely! With a 30-pip stop, we could’ve bagged a quick 3:1 winner by exiting at the day’s opening price.
where do you see it going from here? are you short on the Moody’s downgrade, or do you think the drop friday was a knee jerk reaction to news that was already priced in by the “smart money”?
seems that a lot of folks think it will continue its precipitous drop into next week (i’m in this camp). Also, a lot of people think it’s going to bounce and go higher similar to the USD’s behavior after its downgrade…