I'll be able to tell when it starts the other way, and I don't want to lose any chunk of this move, get stopped out, or pay more spread. There's no significant economic news coming out the rest of the week that will affect GBP/USD except US existing home sales, which is not a really huge mover anyway.
GBP/JPY is another story, because we have Japanese CPI tomorrow, but GBP/JPY was trading at an overblown and unsustainable level. Check the daily charts and look how it bearishly engulfed the last 5 days in one fell swoop. It's down until there is information otherwise. Make money and don't second guess the market. I'm not scared, why are you?
GBP/JPY is another story, because we have Japanese CPI tomorrow, but GBP/JPY was trading at an overblown and unsustainable level. Check the daily charts and look how it bearishly engulfed the last 5 days in one fell swoop. It's down until there is information otherwise. Make money and don't second guess the market. I'm not scared, why are you?
"The time to act is when others show signs of tire." --W.D. Gann