Trade 5325589 - Short GBP/USD
October 25, 2005 by Trader Rich
I made a trade at 2:30 a.m. this morning. I went short on the British Pound at 1.7648. After 10 seconds, the Pound started its descent to 1.7638. It’s only 10 pips but I’m expecting it to continue it’s descent for 2 reasons.
1. Bullish sentiment for the Dollar with furthur speculation that the Fed will continue to raise interest rates.
2. There is a descending triangle in its latter state that has been forming for months now on the daily charts.
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