GBPUSD 12.11.2013 Trade Update

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gbpusdweekly

From my mandate dated 04.11.2013 (for reference please click here), I mentioned that I would be looking for a GBPUSD short and I managed to short 1.6020 and 1.5993 as shown in the diagram above and below. I did not set a target profit in my update. Thus I am writing to inform that I would be taking my first level target profit at 1.5877 which is where the price is trading at this moment.

gbpusddaily

The second target profit is 1.5700 and the final target at 1.5463. All the best in your trades.