German Import Price Index rose 2.6 percent in May; about 0.9 percent more than estimate. The first reaction on Euro was negative though it might be for profit taking. However it had a fast and limited impact on sterling when I decided to close my position (selling GBPUSD) in just 25 pip profit.
I didn’t aware of MPC testimony at the Treasury Committee today. The Business Investment was due to release at 04:30 (EDT) and it was when I saw the impact of MPC members words on sterling which reached to the daily resistance at 1.9796.
I had a Sell Limit order at 1.9785 which is activated automatically. I decided to benefit more from the technical condition and I tripled the size but with a 25 pip target which resulted in profit very soon.
I had a Sell Limit order at 1.9785 which is activated automatically. I decided to benefit more from the technical condition and I tripled the size but with a 25 pip target which resulted in profit very soon.
One hour later the first position closed at 1.9820 in 35 pip loss. Although I was wrong on my assessment but I was able to benefit from flexibility; this is why I want to increase the capital in coming days.
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