Hi,
I think that the revised figure was more for a public consumption as Brown has to show something for the comming elections. But since the big dogs analyze all the angles before entring, they dropped it from 1.5310 to 1.5255.
Personally I am flat till the time it reaches the 1.5350-1.5375 resistence, then I will decide. Since the bias is short, think that before the us news, it can reach the resistence before dropping down, but you never know what will happen also because today is the last working day of the month.
So considering all the above would prefer to take a low risk trade at 1.5350-75
Just my 2 cents
Kind regards
Kashif
I think that the revised figure was more for a public consumption as Brown has to show something for the comming elections. But since the big dogs analyze all the angles before entring, they dropped it from 1.5310 to 1.5255.
Personally I am flat till the time it reaches the 1.5350-1.5375 resistence, then I will decide. Since the bias is short, think that before the us news, it can reach the resistence before dropping down, but you never know what will happen also because today is the last working day of the month.
So considering all the above would prefer to take a low risk trade at 1.5350-75
Just my 2 cents
Kind regards
Kashif