I have a 3 day old trade on GBPAUD long – so far in the last 24 hours it has dropped 50 pips bounced back into profit and then dropped 30 pips. (roughly)
We are expecting good unemployment data from the UK later in the week but my feelings are that we just hold this trade, This is the bottom of a very slow moving bullish trend, we are sitting above the 50ma and just below the 200ma dailies. The pair is making higher highs but it is very very very slow and boring.
Luckily STRobot the trading robot doesn’t mind that and so I’m leaving him in charge.