If we start breaking down again below 1.1950 then I'll change my tune. I've seen setups like this where it looks like the all clear has been given for the trend to resume and it's a trap for the eventual reversal. So I'll be looking for a push up that fails.
Another thing that's bothering me is that since yesterday Asia then London the tape just got really really choppy and it had been smooth sailing up until then. It's worse now. Liquidity being drained?
Sold a little at 1.1982. Stop is at 1.2006, which is a little bit tight. We never got a break of the opening range to the upside.
Well, let me qualify that. We did, but just barely and it just failed tentatively. Need to see a push below .60-.70 then .50. If we slice through like a hot knife and butter, I'll increase.
I didn't realize when I put the GBP on that it was already down like 50 pts off the o.r. Oh well. . .