No movement

So far this morning we have seen no movement. We will probably see little movement between now and around 1.30pm when we have an interest rate statement from BoE & ECB. We also have President Trichet speaking at 1.30pm as well as Unemployment Claims from the US at the same time so I would hold off placing any trades until all of these have been factored in & Trichet has finished speaking.

The active wave for GBP has now retraced (just). Lastly wait for the confirmation then place the trade accordingly.

Good luck today.