GBPUSD: Short Trade Exceeds Initial Target As Prices Break 1.60

We sold GBPUSD at 1.6617 as prices put in an Evening Star on a re-test of support-turned-resistance at a rising trend line established from the swing lows in March. The pair has now moved below our initial objective at 1.6112, yielding 684 pips in floating profit and allowing us move our stop-loss to break even at 1.6617. The next soft target is seen at 1.5728, the 12/17/08 wick high.

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