Yesterday provided quite an active market so we were able to trade all six of the pairs for a total gain of 203 pips. The USD was weak early on then recovered whereas the GBP dropped off quite markedly later in the day due to some worsening news from the retail sector in particular.
There was a small trade early in the day which produced a small gain of 10 pips from the GBP/USD Short but then a small rally cut that trade off unless it was allowed to run as it turned before hitting the usual stop loss, of at least 30 pips behind our entry point, we recomend using. We then saw another trade develope later in the afternoon which would have produced in excess of 120 pips but as we don't normally trade this late in the day we have not included it in the gains shown above. The best performer of the day was the USD/JPY Long which produce 62 pips.
Today looks to be a normal Friday trading day with few reports of interest due out. The only exception id the GBP which could easily react to adverse results on Public Sector Borrowing due out at 9.30 am ( see forexfactory.com) so take care with any trades as usual on Fridays.
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