GBP/USD 17 March 2009 07:18 GMT

The GBP/USD is at 1.40356 and has hit my Low target at 1.40350

I am looking for a reversal here as the Long Fibonacci target is a fair way up at 1.42580

Update: 2 lots long at 1.40656

Update 10:48 GMT - Lot 1 sold by TP at 1.41140. This was a momo trade strat for lot 1 +48 pips
The strategy on Lot 2 would normally be to move to BE at this stage but because of Volatility I decide to leave it at - 50 pips.

Update Stopped out - 50 Volatility wins the day again