Pound trade hit my target to finish with 140 pip profit. I sure could use that after last week. I am going to be bearish on the Pound until it reaches 1.5000 level. There is nothing below to support a strong bounce. Currently I am in no trade. Pound broke out of a descending wedge pattern it formed at Fridays close. It has reached it's target measured from the breakout down equal to the largest part of triangle which is 1.5790. I do believe it will shortly test the 1.5900 break level and then move further south. I have placed a sell order for 3 units at 1.5900 with a stop @1.6100. I have a target at 1.5500 level set. This seems to be the closest support level below. Let's see?
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