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Poor indy production and trade balance figures at 09:30 reverse early day GBP climb re; EURGBP and GBPUSD. 

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I'm betting the reversal is very short term and the market will resume it's course up to 14200-250 area before turning.  If not I have a Stop in below 14050 to catch a drop through.

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May well do after that failed break of 14050 at 08:00 this morning, couln't find big sellers, only buyers at that level, should therefore look for sellers higher up. Tier 2 data often throws just a temporary spanner in the works.

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Agree re buyers and sellers point, I don't think the resurgent bullish sentiment has yet reached exhaustion but it can't be long now.  

 

And if you has left out the Tier 2 I'd have fully agreed.  Sometimes big anticipated data releases are the trigger for an anticipated move (in my view it is what the market sentiment wanted to do anyway that is moving the market) but all else is just grist to the mill, in my view.

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I laugh at those situations where the anticipated data releases have been so heavily priced in that when the data come out price goes the other way. A case of 'buy the rumour, sell the fact'.

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    • Is that a trick question..? I'm trying to have a broad picture.  And to consider (and develop an understanding of) as many influences on prices as I can.
    • And just so you can 'get where I'm coming from' for the last 6 months here is a data set from Asia I posted way back in February (Daily Dashboard thread). Looks pretty similar doesn't it and certainly a million miles from Ferguson's model predicting hundreds of thousands of deaths.
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