Thursday, August 14, 2014

Long GBP/JPY

I entered this pair long at 170.83 as the support at 170.775 is very strong and I missed the opportunity to enter at the initial bounce. 


The second estimate for the UK GDP will be out tomorrow morning. I did some back-testing and the results were in line with this move. 

The first estimate was 0.8%, meeting expectations. Historically, movements for the UK GDP has been in line and if any will be very tiny, insufficient to go against the current for GBP pairs. 

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