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4 Minute 55pip Spike in GBPUSD - 12pm GMT yesterday


Guest jsw_nz

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Guest jsw_nz

Hi All

My first post here. I am trying to get my head around the
massive 4 minute 55pip Spike in GBPUSD - at 12pm GMT yesterday
My FF Economic calendar suggested news coming out an hour later (1pm GMT)
(Really not sure if that is what actually really caused this - news filtering out early - not sure)

Thankfully, I was not in any trade at that time - but if I had been - would have been definitely taken out
....and if I positioned in the opposite direction a minute later - would have been taken out a second time

Can anyone suggest a theory of what caused this behaovior
Thanks in advance

cable_spike.jpg

Edited by jsw_nz
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Hi @jsw_nz,  UK is currently on summer daylight saving hours so it's gmt +1, so you were looking at the bank of England interest rate decision and monetary policy statement. You can change the FF calendar setting to update change over automatically by clicking on the time tab in the calendar header and switch on DST.

 

image.thumb.png.418cba3c95bdc4db0aabe2b399e95e0b.png

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Guest jsw_nz

UPDATE: SOLVED - My Forex FActory Chart was off by one hour - had to update it to 'automtically adjust for daylight savings" - all good now

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