GBP/USD has fallen so much is such short space of time! how is this possible?

[dave100]

Hi Guys,
I've never ever seen the GBP/USD ever fall from more than 2.0830 to 2.0385 just in a few trading days. What's happening? People are selling the pound prior to the interest rates announcement (tommorow)? How do they know? What should we do? It's at a pretty low rate now, shall we buy? Or should we wait till it picks up again after the interest rate announcement?

And also, what should we do with the AUD/USD? Thanks

Cheers,

Dave

[tonymand]

Todays fall precipitated by HBOS house prices. Normally not a major announcement but the market is particularly focussed on housing at the moment due to subprime issues and collateral banking problems in the UK. If you trade what you see there have been many opportunities to get into this short run but note we are now at a major 4H support so price behaviour is now critical

[tonymand]

[quote=dave100;31501]Hi Guys,
What should we do? It's at a pretty low rate now, shall we buy? Or should we wait till it picks up again after the interest rate announcement?

And also, what should we do with the AUD/USD? Thanks


Since you dont have a plan its clear you have no idea what you are doing. Your first step should be to learn something about this business and dont go anywhere near the market with real money right now unless you simply want to lose it

Originally Posted by dave100

Hi Guys,
I've never ever seen the GBP/USD ever fall from more than 2.0830 to 2.0385 just in a few trading days. What's happening? People are selling the pound prior to the interest rates announcement (tommorow)? How do they know? What should we do? It's at a pretty low rate now, shall we buy? Or should we wait till it picks up again after the interest rate announcement?

And also, what should we do with the AUD/USD? Thanks

Cheers,

Dave

The first thing you should do is take some time and go through the free Babypips school. It will teach you some things about why currencies move the way they do, as well as how to trade in various markets.

School of Pipsology - - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

[MakeMoneyorDIE]

My advice STAY AWAY from that Those pairs GBP/USD
it is VERY volital...it caught me a few weeks ago...when i was day trading
and i didn't have a stop put in....lost 300.00 bucks in the blink of an eye it seemed like....

Don't mess with that one if you learning....The Pound i think will be in the same boat as the Dollar one day soon....they are having same problems
Credit mess, housing etc...

Should be a good ride....i am not taking my own advice and i am in
for this to go to 2.00

See ya

[totally]

why stay away....the market moves through the news...people are happy to see the news of usd strong data last night...

8:15am USD High Impact Expected
ADP Nonfarm Employment Change
[View Detail for This Event]
189K
50K
119K

[n_aftab]

all realted to the speculation that the bank of england are going to cut rates

[million_dollars]

Originally Posted by MakeMoneyorDIE

My advice STAY AWAY from that Those pairs GBP/USD
it is VERY volital...it caught me a few weeks ago...when i was day trading
and i didn't have a stop put in....lost 300.00 bucks in the blink of an eye it seemed like....

Don't mess with that one if you learning....The Pound i think will be in the same boat as the Dollar one day soon....they are having same problems
Credit mess, housing etc...

Should be a good ride....i am not taking my own advice and i am in
for this to go to 2.00

See ya

Its well below 2.00 now.