If at first you don't succeed, sell again. GBPUSD still trying to make its mind up.

GBPUSD has enjoyed a good time of it post-FOMC but sellers again emerging.

I've been banging on about the 1.4400-20 level for a while now and we've posted 1.4427 before falling back to 1.4365.

Ok, so the pair ploughed through the reported strong sell interest earlier around 1.4350 so we're not getting carried away yet but there's pips to be had still selling rallies on these moves. Cable bulls will be equally glad of the dips and that makes for a good two-way market. The BOE outcome was bullish only because it wasn't as bearish as feared/factored in.

As I've said a lot recently it doesn't pay to get greedy though and the sharp pull back in USDJPY highlights the danger of that, at least for the intra-day players amongst you.

GBPUSD currently back to 1.4395 and underpinned again by EURGBP falling back to 0.7845 after holding the 0.7910 I was equally banging on about earlier and have highlighted this week.

Greg has the technicals here.

Fragile times like this need a little patience but, more importantly, discipline if you are to stay one jump ahead.