The EURUSD pair continued its upward move today but the divergence is still there. Also, today was the 4th day of the non-stop upward move. Therefore I moved the SL closer and placed it at 1.3868, which is just underneath the previous resistance of 1.3870 and this is also right under the latest pivot point of 1.3873.
Since tomorrow is Friday and the ECB President Draghi is due to hold a press conference, in Washington DC on Saturday, I am not willing to leave this trade open over the weekend. So, what I am going to do is I am going to add a profit target to this position and set it at 1.3918. This is for the case there will be a run up in price during the European session. If not, I will trail the price tightly tomorrow and will close this position at the end of the day.
The GBPUSD pair started to move down this morning but moved up as soon as I got on board. This is exactly the type of the situation when people start taking things personally and come up with all kinds of conspiracy theories. I look at it the way Forrest Gump did: “S… happens!”
Seriously speaking, the GBPUSD pair was shorted at 1.6758 and the stop loss order is set at 1.6806. I had reasons for opening this trade and those reasons are still valid. This is why I am still holding this position open.