UK Manufacturers report weakening in total and export orders

I don't either evidently.....this trned is not following the recent rules where an economic slow down may signal lower interest rates or BOE QE.....GPBJPY tends to fall hard when it falls....but in the mean time very puzzling...

Hey Steve,
I feel your frustration mate and w'r all trying to deal with this, and there's a lot that we still need to learn in order to almost get it right, to the best not get it wrong .
In my humble view this is what I think, don't take as an advice but rather as an element in your trading system:
Everything and all markets revolve around the mighty USD, and in which direction it's heading because all markets (FOREX, BONDS, EQUITY etc etc) are interconnected and the USD is the center piece. Therefore, if the USD weakens, other currencies appreciate against it, US equity rallies etc etc.
Now is the question of what moves the USD? The answer is money supply (behavior of the FED or even more the EXPECTATION of what most likely the FED is going to do) .
Since central banks around the world embarked on QE, The bias has been to the upside in equity . It's for more liquidity every time macros turn sour. So whenever headlines are bad , the expectation is that the FED will pump more money and that props other currencies against the USD.
What I'v been doing for the past year is buy on weakness with a tight stop just to play it safe. FYI, I do trade US index futures, so you have to adjust accordingly when trading an other instrument .
Therefore, even if the news say for cable is bad but there are other factors that might weaken the USD against it during that period, cable will rally against the USD just because some FED official is due to speak later that day and his statement might push the USD lower if he would whisper QE3 for instance. Sometimes, it's not about which currency is better, but it's about which currency is less ugly.
I hope I didn't add to ur confusion.
Cheers

will go down during us session.

so we seem to be heading up.... ????? craziness

Yes Ibram, thats more likely.
But theres so many things(forces) that affect the cable..
;-)

1.60 on the table

I quite new here, and I'm going crazy trying to trade based on news, I've seen many times the price going bullish even tho there is negative news.

Looks like I really don't know how to trade news................

Nobody knows the last half year, all working with the crystal ball...who it have I not.

Another ingenious reason to buy into this gay rally

U mind 1.5600 ?

Thanks guys for the reply, looks like I'm not alone.....lets hope at the end of the day we still make pips.

Tequillo, thanks for the tips, I will look at it your way and see how things pans out.

No News Coming Up In US, it's all about technical trader.
I Expect down to break the support point not the resistence...