My Forecasts

13:25GMT GBPUSD should touch 1.4820s and then launch back to 1.5100 in next 24 hrs for a pattern.
13:00GMT RSIs for Hourly, 4 hrs, Daily & Weekly is breaking into new lows..never seen all of them these low in my memory.
12:40GMT I closed almost all EURs open Long trades in -ve pips at price of 121.50ish and then saw another fall, was bit lucky but extreme situations demand extreme actions..
12:05GMT NEWS :Political, economic and monetary policy risks are all weighing heavily on sterling Monday, pushing the currency down to its lowest level against the dollar in nine months and even shoving it down to its lowest level for the year against the euro. The outlook on the currency is now looking increasingly grim, with data released late last week already suggesting some traders' negative bets on the pound against the dollar have surged to an all-time record. Opinion polls in the weekend press have shown a shrinking lead for the Conservative Party ahead of the general election, which must be held by June. On top of that, uncertainty surrounds the Bank of England's monetary policy meeting Thursday. All this means the currency may be in for a very testing week. "It continues to be all negative for the pound at the moment," said Audrey Childe-Freeman, an analyst at U.S. bank Brown Brothers Harriman in London. "Dreadful economics, an uncertain monetary policy environment and highly uncertain politics will all leave sterling vulnerable in the near term," she added. Already Monday, sterling has slipped to a nine-month low against the dollar, dropping well under $1.50, while the euro has surged far above GBP0.90 for the first time since early January. The political opinion polls have become a key driver for sterling in recent weeks as the Conservatives' lead has shriveled from around 13% in December to just 2% now. That suggests no single party may win a majority--a situation known as a hung parliament that would make it even tougher for any party to fix the U.K.'s public-spending stresses. "A hung parliament is one of investors' key fears for sterling," said Paul Robinson, a strategist at Barclays Capital in London. "Risks in the short run remain to the downside for the pound." On top of that, investors appear jumpy over whether some members of the Bank of England's rate-setting committee will push for a fresh extension of its quantitative easing program this week. "Uncertainty is always a bad thing for a currency, and at the moment, there's uncertainty about the uncertainty," said Geoffrey Yu, a currencies analyst at UBS AG in London. Investors are starting to position themselves for the risk of a brutal sterling crisis, Yu added. The main chance for some short-term support for the plunging pound may now come from the fact that it has already been sold very heavily. Friday, data from the Commodity Futures Trading Commission showed negative sterling bets against the dollar among non-commercial traders on the Chicago Mercantile Exchange hit a record high in the week running up to Feb. 23. Those traders don't represent the whole of the market, but they are often seen as a proxy for hedge funds as a whole. With these data suggesting there has already been a sterling-selling frenzy, waning momentum or the closing of successful bets could kick in to give the pound a modest boost soon. "We may see a short-term correction, but I would not expect a major rally ahead of the BOE on Thursday," said Yu at UBS. By 1105 GMT Monday, sterling was trading at $1.4978, some 1.8% below the levels it held late in New York Friday. The euro was at GBP0.9082 against the pound, up 1.5%. Sterling has also hit 25-year lows against the Canadian and Australian dollars Monday.
11:40GMT GBP Mayhem may be over for 30 mins but it will be back for US Session..
11:05GMT Mayhem - GBPs next stop 1.4850s Stophunts are severe.. Traps ahead ..careful trading..
09:15GMT Most of the EURs oversold..will spike before the downward trend..
04:40GMT Big Volume in GBPs - players are in :D Good luck..
00:00GMT News:The dollar will be caught this week in a tug of war between heavyweight economic data from the U.S. and developments in cash-strapped Greece. Greece, which could sell a new bond, has become a key gauge for investors' appetite for risk. Last week, warnings from ratings firms over the Greek government's ability to enforce sharp budget cuts sent the euro to its lowest level against the dollar since May. The euro, however, recovered as weaker-than-expected U.S. data reminded investors that key rates will remain near zero for a while, reducing the attraction of holding dollars. This week's data could reinforce that message, even if a lot of the weakness reflects the severe winter storms. All this makes for volatile trade, particularly as short-term traders have built up large bets against the euro. Last week alone, the euro swung between $1.3451 and $1.3693. "The dominant tone [in the markets] is one of extreme nervousness," said Alan Ruskin, global head of foreign-exchange strategy at RBS Securities in Stamford, Conn. There will be a lot of back-and-forth trading, he said, but until there is decisive news on Greece, there won't be a clear direction. Late Friday in New York, the euro was at $1.3617. The common currency has fallen roughly 5% against the dollar since the start of the year. The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 80.487, up 3% this year. Greece is planning to sell a 10-year bond, hoping to raise from 3 billion euros to 5 billion euros. It is also set to unveil austerity measures to cut its budget deficit, which last year hit 12.7% of gross domestic product. Germany, the euro zone's largest economy, may yet step into the breach to assist Greece. On Friday, a German lawmaker said the government is discussing the possibility of arranging an emergency credit for Greece under the auspices of public-sector lender KfW -- though he stressed no decision had been taken yet. "The planned Greek issuance will be an interesting litmus test," said Jane Foley, a research director at Forex.com in London. "Like the previous sale it may go better than expected and bring some comfort," she said, but to attract investors, the yield will have to be quite high. That in turn will add to the pressure on Greece's budget. Greek 10-year bonds were yielding around 6.5% Friday. Investors will also get a lot to chew over on the U.S. economy: from national data on the manufacturing and services sectors in February to the all-important nonfarm payrolls report. With the market heavily betting on further euro declines, reminders that the Federal Reserve won't raise rates soon could lead to a sharp reversal. "We expect the U.S. data to remain mixed, like as of late, placing some question marks over the exit strategies of the Fed," said Derek Halpenny, European head of currency strategy at Bank of Tokyo-Mitshubishi UJF Ltd. in London. Severe weather on the East Coast could significantly depress the reports, particularly the payrolls data for February. "The market has yet to take aboard the impact [of the weather] on [this] week's U.S. jobs report," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York. "Even if it is weather-induced . . . market positioning is such that there would be risk of a dollar setback." Sterling will also remain in the spotlight, after dropping to nine-month lows last week against the dollar, undermined by concerns over the economic outlook and the possibility that the U.K. general elections this spring could lead to parliamentary gridlock. Friday, sterling was at $1.5241. It has lost 5.6% since the start of the year.