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    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • « USD / CAD - Are You a Believer? | Home | Don’t try to explain a fundamental event with technical analysis. »

    GBPUSD Trading Range

    By Laetitia Vaval | October 16, 2007

    The GPBUSD pair has been trading in a range (2.0250-2.0450) since the end of September. I’ve decided to try to profit from this trading pattern. I bought one lot at 2.0300. My upside is 150 pips (limit set at 2.0440). I set my limit price at 2.0230, 70 pips below since that is under the trading range and if the GBP reached that level it would probably mean that the range has been broken and that my earlier ”analysis” is no longer valid.


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    Topics: Wall Street Warrior |

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