Disliked{quote} Except for today being a Friday, news would only have temporary impact against the major market direction except it is in line with it. Any news that turns pa against the major market direction during other days of the week will not have lasting effect. In a matter of 1 hour the market will turn to its previous direction. KPIgnored
For instance Boris Johnson caused cable to slide for about two weeks- when he said that he was supporting Brexit. I think Cable had the largest one day fall in about 4 years- when that came out.
But if market sentiment is bullish and some figures or news comes out that are negative that are not that important - I agree there will be a dip - but the market will carry on up.
Getting back to today, we have 4 days of rallying on cable. Yesterday's candle appeared weak - with high volume. I think its called stopping volume or something.
Then we had negative news on the pound and positive news on the dollar (there was an article saying that the BOE will cut rates irrespective of what happens with Brexit and a Fed chairman talking about raising rates). This news caused cable to come off during the Asian session.
So it was likely that traders would jump on this when London opened.