GBPUSD 11-28-06

11-28-06

GBPUSD

The GBPUSD ran into the area of supply at 1.9448 on Sunday, and it has been trading in a range between 1.9448 and 1.9307 for the last two days. Depending on your platform, you may have been able to participate in the run up to 1.9448 if your platform opened for trading at 1:00 PM Eastern time. If the GBPUSD can rally past 1.9404, move your stop to 1.9370 to lock in another 101 pips on the last contract. You may want to use the moving average at 1.9355 as a trailing stop since it has reached the trading range. That usually means the move higher could be stalling.