'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by 
Believe your eyes when you see a 300 pip candle.
This move is evidence that there is selling pressure at the 1.58 level and that a top may be forming. I would say it’s time to change the bias view from bullish to at least neutral and to consider the risk is moving to the downside.
Cheers and for those in the UK, parts of Europe and the US; Have a fun and safe long-weekend.
Sometimes we just can not believe our eyes. I really cant not believe it when I open the chart and see it had dropped that much and came back so quickly. My first reaction was buy at a market price around 1.57. I did follow my heart that one such drop will not change a very strong trend. Market is strength as UK economic condition is hopeless but Sterling is so strong. The word economy is deteriorating but the stock is rising just like the dollar’s rise last year.
Hi Barry.
Great trade. You are indeed on the right side of the current sentiment towards USD weakness.
The previous sudden selling pressure on the GBP, plus the rise now challenging channel resistance suggest a turn is not that far away.
Remember what you said about Sterling. When sentiment changes back to favoring the USD; The move down will likely be equally as strong as the move up has been.