Forex rebates on every trade - win or lose!

I am short & wondering whether to close or wait - any views?

Sue, Your short looks good so far but tread carefully cos there's news release minutes from now which can drastically change your current position in either direction.

Edit..Btw, the current main trend is in an upwards direction

Wll, I'm Long Sue, which should mean that your Short is safe, cos I generally get it wrong :-O But you never know just for once................?
Sorry, not much help I know.

pth

I have closed it for +80

edit - this is too funny - I have just closed my cable short on the basis of the chart - unfortunately I was looking at the Gold/Dollar chart! Doh!

Errrr. There isn't any GBP news today to affect the market and trade is expected to be thin ahead of the US.

NIESR rate hike call was overnight and there was a comment from the Tiddlywinks about not needing to widen the Yuan band, but that's it on the news front.

Thanks Hilary, I must be still asleep ;-)

Blimey closed me long for +14 reversed and just closed again for +10. Really want to go long again, but am out for the remainder of the day, so decisions, decisions.

Well done Sue :-)

Went long at 8606 and currently sat on the wrong side of the money. Got a stop in place at 8570 which is just below the morning's low.

Just hoping for it to continue its trend upwards.

Got stopped out a few moments ago :-(

boe rate decision, is it tomorrow, as in the calender above , or is it today? i only ask because saxo bank are saying it's today in their email.

"Wednesday: GBPUSD higher on the weaker USD. The BoE rate decision today. The surprise is if they decide to hike, but is expected to remain at 4.50%. Buy dips towards 1.8710-25 targeting new highs this week"

It's tomorrow, bos.
The meeting starts today.

ah.
ta.

I've been trying to short this all week - losing plenty of points along the way. Perils of the game I suppose - using my usual triggers they have turned on me a couple of times. Got a few back this morning from shorting in advance of the BoE but now flat until we know which way that is going to go.

Personally I don't think they'll do anything so the possibility is a continued decline - but I've been burnt before so there's no way I'm gonna try and anticipate one way or t'other.

Indicators are practically useless in such a bull trend I think mg. At least mine are.

I'm short too and debating with myself what to do over the news.

Cable's been falling steadily all morning although it's been off the lows in the last hour or so.

Its seems that the market isn't expecting a rate rise today.

Err. Thankfully I closed my short :-)

Glad I was flat with that short

That was unexpected! So glad I was out of the market there :-)

Strikes me that the right decision would have been to go long in anticipation of a surprise rate hike.

If they had left the rate unchanged then I would imagine there would have been an orderly decline which would be simple to reverse into.

Am I right?

Harlosh
Reckon the best position was flat :)