The British Pound Continues To Rally

The British Pound had another nice move up today and as you can see the rally has been quite sharp over the past 5 weeks.

I exited the last 25% of my long position today because my profit objective was met. If you look at the rally from point C to D, you will notice that it is exactly the same as the rally from point A to B. This to me is a great place to exit longs.

This trade was a huge trade because of the large move the British pound had in such a short period of time. On my other blog I posted my reasons for being bullish right at the lows on June 14th. You can read why I was bullish by clicking here and here.. How sweet it would be if all of our trades worked out like this one did.