GBP has presented a very low-risk entry point by winding itself into a tight range overnight.... perhaps the tightest we've seen in weeks. Here's the plan:
Pending order (1): Short 7,950 GBP/USD at 1.4936
Pending order (2): Long 3,975 GBP/USD at 1.4906
Initial stop: 1.4966
Initial exposure: 30 pips, $23.85 or 9.98%
I would have risked the usual 15%, but my broker doesn't offer enough leverage for me to do that! The nice thing is that we should know very quickly if this works...
Current closed equity: $239.09
Current position: flat
Current exposure: 0
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