No retracement for the GBP/USD, so a stop is hit.

Loss 30 pips.

Down 30 pips for August.

Looking at a spot of resistance to develop for the GBP/USD.

Sell @ 1.8743

buy @ 1.8713
stop @ 1.8773
 

It looks like the USD/CAD pair made its final leg up on a classic Elliot wave move on the 1 hour charts.  Therefore, our trade hit its' target and garnered a profit.  It was close as the loonie swooned, almost stopping out our trade when it fell to 1.1319.

Profit for trade: 43 pips

Profit for July: 43 pips

The USD/CAD just made the 3rd wave on an up move.  The last and 5th wave could possibly ride up to a resistance level. 
Going long....
Entry at 1.1344
Limit at 1.1387
Stop loss at 1.1316

The spike in the USD/CAD came after the Bank of Canada postponed raising interest rates.  An  article can be found here commenting on the news.
 

Since I am a big Hugh Hewitt fan, I have taken up the cause of moving my blog to Townhall.com.  I am not sure if my content fits with the vision of Townhall, but it never hurts to have a few black sheep in the fold. 

My blog is merely a device to track all of my trades in the financial market known as the Forex, or foreign exchange.  Money is made buying and selling 'pairs.'  Pairs are made up of a base currency, the US dollar for example, and another currency such as the Japanese Yen.  There are a number of pairs that are traded heavily.  I will focus my attention on four: the USD/EUR, the JPY/USD, the USD/GBP, and the CAD/USD. 

I use Fibonacci to determine my entry and exit points when I trade.  I will trade resistance and support levels as well as spikes and breakouts.  The goal of this blog is to discipline myself to the point where the blog will be an accountability tool to sharpen my trading abilities.  If I can do it on a blog for everyone to see, I will be able to successfully do it in my own account.