Day 337: Dolla baby

Profit: $1.76 Total: $1,268.15

The BoE left rates unchanged but gave a  warning just in case Brexit does actually happen. Q2 growth was also cut to 0.3% from 0.5% and with a chance of Britain leaving the Euro zone, I feel like the GBP/USD has more falling to do. Dollar, however, had a great day and continued to soar among other pairs. I’m expecting more out of the dollar bulls.

After GBP/USD had a volatile spike up from the BoE, I took caution to position my short. I wasn’t aggressive due to my loss yesterday, which I regret because the GBP/USD was a great short. If tomorrow’s retail and PPI data comes out great for dollar, I think next week should reignite the dollar bulls for another leg up. The hard part of forex is knowing when to be aggressive and when to play it safe.

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