Today's trade - 300109

I placed a sell order trade for GBP/USD but made a loss of 40pips. GBP still going strong against USD, even though other major pairs already plummetted against USD. Ermm probably will have to wait next week for this pair to go down. Next week, BOE is expected to cut rate by 50bps. It still baffles me why this pair still hold strong even though other pairs have dropped.

This is 4hr chart. Looks like cable has already break the downtrend. Dont know how long will it gonna last and where it gonna go (possibly to the 61.8 fibo level@1.4644 as it has just penetrated the 50.o fibo level between the top 9/1/09 to bottom 23/1/09). Still risky..