Cable Update (GBPUSD)

and it all immediately reverses... interesting.... see, a good reason to be CAAAAAAAREful around news... still watching for entry...

no, right now, this is not a "buy"... in my book, its not an "anything".... wait

Ladies and gentlemen, Please take your seats and fasten seat belts. The Captain announced we are to land in a few hours

That's the real news here. Nothing like running the printing presses!

They absolutely do have the extent (good/bad) of the news before us ... you can deduce that everytime.

Looks like all we got was a 30/40 pip (pre-announcement) pop, and now a down trend is forming. I didn't expect this from positive news. Live'n'learn.

Yes, in an hour. Or two...

key level breakout

Maybe we should ignore the news, they are hard to fathom. Wait until the furore died down, then plan your trade.

my short pos. target from yesterday was 1.6284, I'll not wait I'll close my 2 pos. @ 1.6320

GBP/USD continues to stay in range of 1.6205 and 1.6617 today and with 1.6617 resistance intact, Below 1.6205 will target 1.5778 cluster support (38.2% retracement of 1.4395 to 1.6661 at 1.5795). Note that break there will strongly suggest that, at least, rise from 1.4395 has completed. In such case, deeper fall should be see to trend line support (now at 1.5391) first. On the upside, though, above 1.6617 will indicate that recent rally is still in progress and has resumed for 1.7332 fibo resistance before completion.
In the bigger picture, price actions from 1.3503 are treated as correction to the larger down trend from 2.1161 only. With trend line support intact (now at 1.5391), rise from 1.3654 might extend further but focus will remain on reversal signal as GBP/USD stays in 1.6428/7332 (38.2% and 50% retracement of 2.1161 to 1.3503) as we'd expect the correction to conclude here. On the downside, however, break of the trend line support will be an important signal that such correction has finally completed and should turn outlook bearish for a retest of 1.3503 low next.

I can say to you all, Just ignore the news wait until it released then trade according to the technical not according to the results..

http://www.forexfactory.com/showpost...stcount=137678

Trade safe & good luck

weekly pivot hit @1.6284 as we said it is the target yesterday.

who's long from here?

i do... long 1.6290... lets see 40-50 pips it's ok for me

I think Wormboy is right with the rebounce at 1.6275... I'm long from there, my tp is 1.6400...

Anyone agree?

On the contrary,i short @1.6284 my tp is 1.6220.. the lowest point of yesterday.. well, i do mistake a lot, so set my sl to BE to be safe..

Long@6269 with ready SL

Long @ . 6266.

16240/45 ftw.