BITBOY VS. SBF IN BAHAMAS !!!!! *unbelievable*

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Once again following our rules saved us from taking an ugly loss. I hope most of you headed our warnings and got out of any position prior to the 10:00 AM news. Mr. Bernanke will testify before the Joint Economic Committee of Congress on the U.S. economic outlook, in Washington, and Cable went wild.

Cable continues trading in a tight range from 1.7935 to 1.7800. We will continue to play these levels for support and resistance, until on of them is broken with a strong move. With the current situation, and the knee jerk reactions we are seeing, you should stay out of the way when news is being released.

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Currency market update 21st April 2006 Sterling rallied a quarter percent against the euro and steadied against the dollar below recent seven-month lows on Friday, with markets focused on the UK inflation outlook. News that UK consumer prices rose an annual 1.8 percent in March — below forecasts for a 2 percent increase — sent the pound lower versus the euro on Thursday.

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When I look at the charts tonight I think of my favorite Led Zeppelin song, The Song Remains the Same. Cable will once again be testing the resistance around 1.7935. If this sounds familiar it should, we have been tell you about this since last Thursday.