volatility of GBPUSD on Friday (5/10/07)

[olivictor]

Hi Members!

The rate of volatility of GBPUSD immediately after the release of the news on Friday was astonishing, it seems the USD lost all its gains almost immediately, how can one handle this kind of situation in future? Give your advice on how to handle it next.

TX.

 

[A_Aziz]

My Answer

i put my daily graph regarding GBP/USD and you will see that the line tried to cross upper channel boarder at that day so that point is just good exit or good short position .

 

[timinaz]

if you are going to carry trade the GU, you need to be prepared for spikes up or down around US and UK financial news release times. the biggest indicator, and usually the biggest spike in this pair comes on the first friday of almost every month. This particular month's news release should not have been much of a surprise to people watching this indicator. personally it was a very profitable day.

 

[irondawg]

Bahama trader

Just saying HI to all. I just getting into trading and feel luck to be apart of your forum.