Playing GBP weakness against the strength of the Japanese Yen for a quick turn around. 60 pip stop loss with 120 pip take profit.
This morning in the London session we have seen the British Pound continue its downtrend across all pairs:
GBPUSD -0.11%
GBPNZD -0.14%
GBPCAD -0.04%
GBPAUD -0.02%
GBPCHF -0.19%
GBPJPY -0.31%
EURGBP +0.16%
The strength in the Japanese Yen is even clearer with significant strength coming in early this morning on all its pairs:
USDJPY -0.21%
EURJPY -0.16%
GBPJPY -0.33%
AUDJPY -0.30%
CHFJPY -0.12%
NZDJPY -0.18%
CADJPY -0.29%
I am sticking to a strict 2:1 Risk-Reward for this trade however the position could be managed lower with some care and attention.
Good luck!
This morning in the London session we have seen the British Pound continue its downtrend across all pairs:
GBPUSD -0.11%
GBPNZD -0.14%
GBPCAD -0.04%
GBPAUD -0.02%
GBPCHF -0.19%
GBPJPY -0.31%
EURGBP +0.16%
The strength in the Japanese Yen is even clearer with significant strength coming in early this morning on all its pairs:
USDJPY -0.21%
EURJPY -0.16%
GBPJPY -0.33%
AUDJPY -0.30%
CHFJPY -0.12%
NZDJPY -0.18%
CADJPY -0.29%
I am sticking to a strict 2:1 Risk-Reward for this trade however the position could be managed lower with some care and attention.
Good luck!