Here is an example of news trading in action. It is on the GBP/USD currency pair. The market had tested and rejected the 1.70 level the previous day. However the price action retained a bullish bias. This was confirmed by a succession of higher highs and higher lows and rising moving averages. The pair had also already tested support at 1.6994 earlier in the morning. With news due for release at 09:30 UK local time the bias was to send the pair higher through resistance level. Given the bullish momentum the trade was called higher to good effect.