In today's blog post I would like to give a quick review of one of my latest trades which was short GBP/JPY(see Figure 1). The whole premise behind this trade was a broken support which was pointing to further downside movement. Not to mention that once cable has broke the key support level of 1.5000 which is a very big round number, would send a strong signal across the board that GBP is very weak. This was a very quick trade as weekend was approaching I was not having enough margin left to hold it over weekend and in this regard my target was the nearest support level.



Figure 1. GBP/JPY 4h chart


Best Regards,
Daytrader21
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