So weekly S1 has now been hit prior to weekly pivot, it appears this week we had one of those 20-30% scenarios. No danger, I had SLís in place and actually still made money with a long bias. Rest of the week I will be continuing to follow trend. Missed this mornings entry, will look for a retrace to enter short.
...balance of probabilities still favours a +0.25% rise re Boe/Mpc at 12noon Uk time. Room though for a 'hold' (pause) instead of 'twist' - talk of which has been building over the last 24hrs or so....still favours the former though I think,? but anything can happen.
123Ö itís the knife edge moment will we have a rise or not. Be interesting to see where we end up
If we break through 1.2700, get ready for 1.215. If we jump up, just hold and wait for it,s next move after news. I believe the wick will come back if it flies. Because overall condition of UK is not good.
BOE rate decision in few minutes. UK econmy looks bad, also there is a high possibilty that BOE can pause. Even if they hike, this means sending economy to the recession area. Nothing supporting GBP now.
Opening a GU short position from 1.2297
SL at 1.2355