What was the reason of today gbp decline?

Trading Discussion Currencies
1

HI,
You know,Most of the time ,When Europe session open GBP or EUR will go up but today when the Europe session opened I see a strong decline in prices but I didn’t understand the reason.Can someone helps me please?
Apologize me .my English is not good.
Thanks

2

some traders close out trades on Fridays so it can drive the price down.

3

The question was asked on Thursday morning, so the Friday thing doesn’t answer his question.

You know,Most of the time ,When Europe session open GBP or EUR will go up…

This is completely false. Just because you see it happen a couple of times in a row does not mean it happens most of the time. Also, you need to be clear on what you’re talking about. I assume you mean GBP/USD, but when you say GBP that can be taken to mean the pound in general, including the likes of EUR/GBP and GBP/JPY. EUR/GBP actually was falling through the open, which means GBP was rising in value in that relationship.

…but today when the Europe session opened I see a strong decline in prices but I didn’t understand the reason.

Assuming we’re talking GBP/USD here, keep in mind that there are two sides to the equation. The dollar rallied sharply overall, with Greek issues playing a definite part.

4

Oh,Sorry.I mean GBP/USD .Most of the time by opening the Europe session the pair will go up But I didn’t understand the reason why It went down yesterday.What can be the reason?

Thanks

5

I’ll repeat:

[I]This is completely false. Just because you see it happen a couple of times in a row does not mean it happens most of the time.[/I]

But I didn’t understand the reason why It went down yesterday.What can be the reason?

And I’ll also repeat:

[I]The dollar rallied sharply overall, with Greek issues playing a definite part.[/I]

Dollar goes up, GBP/USD goes down.

6

Today may 5 the gbp/usd is going down mainly because the primary elections are tomorrow and there are a lot of doubts of whom is going to win, and because of the Greece situation that makes people go to the refugee currency the usd dollar. Will see what happen tomorrow, the results of the elections are tomorrow at 21:00 GMT.

7

Hello,
Just to clarify the previous post. The election results aren’t announced at 21:00 GMT today (Thursday).
As a UK resident I will be staying up late tonight to watch the election results coming in. The BBC’s election results coverage starts tonight at 21:55 (GMT from now on), and after a couple of hours at close to midnight the first regional seat results will come in. There are over 600 seats and over the next few hours the individual results will be announced. Usually by about 4:00 the next morning it is clear which way things are looking but this year with polls being a lot closer it may not be so clear cut. By the end of the night and when people are getting up the next morning usually one party has realised the game is over and has conceded, or, of the results so far counted a majority has been reached .
So for Americans in EST or CST who are five or six hours behind us I wouldn’t really expect a result until a little before midnight Thursday night or maybe later.