Of course, you will knock out some of the big winners as well when you cut your losses simply because there will be those trades that lost heavy initially but then recovered to become big winners.
Probably a mistake. I don't really understand this up move and doesn't sound like other traders do either. So a possibility of a major up move overnight/tomorrow. May go long....
The UK, for better or worse, can print its own money unlike the eurozone countries. Also, it has never ever defaulted on it's debt. Nevertheless, it doesn't deserve a triple A rating.