Monday, April 13, 2009

Watching GBP/USD...

...1.5 level.

I'm unsure what I think about it...I feel it's not all that strong right now. Ideally, I'd like to scale in shorts around 1.495 on up to 1.5 but after the roller coaster this morning on the EUR/USD, I'm feeling a little more risk adverse.

We'll see and watching price action as it approaches the level. A small position wouldn't hurt but as for really scaling in, I think I'll hold off for a level that I feel more comfortable with.

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