Cable seems to retrace till 2.0155 earlier on Monday and later will move up to first target at 2.0250.... GL
nik1033, take care on Monday => Bank of England may be forced to cut rates: UK Observer London analysts slashing GDP-growth forecasts: Observer BoE may cut rates as soon as October: UK Observer http://observer.guardian.co.uk/business/story/0,,2174720,00.html
Have been surprised by GBP´s resilience in the wake of Northern Rock and also by the adjustments made for GDP. Dd not have any position in currencies in the last couple of days. Funny enough, though, I read an article that Yen gains as report on U.K Deposit Scheme causes risk aversion : http://www.bloomberg.com/apps/news?pid=20601087&sid=asntCOyV3lBU&refer=home
A classic example of a trader willing to suffer big losses and drawdown not to have to admit he's wrong. Bravo and good luck with that next time!
I underlined in my previous post then I admit my wrong step, I post it as 'stopped out'... Good trades and good luck to you!