This may be a totally lame article out of me, but I really just wanted to capture an idea that is in my head at the moment and after that return tomorrow and find out how it panned out.

I was analyzing some legislation about insider trading another day, and that I know the subject's come up on the boards, but it got me thinking about insider trading on news release information, which, to my understanding isn't exactly illegal.

In context of the GBP...

We obviously needed a monstrous drop since last week following a few information, also from a technical perspective, it would appear that the current minor uptrend may be only an exhaustion move upward as we shed over 300 pips only 3 trading days ago. Thus, we COULD explain the move upward as the market completed absorbing the preceding week's news.

Tonight (tomorrow ) we get some key data concerning the GBP. . .hopefully something that will provide some real momentum someplace.

Thus from a fundamental perspective, could this recent (in the last 4 hours or so) little little spike be preemptive buying in the GBP? It actually is a very small spike, but the up movement has legs in multiple currencies, so there could be something to it.

I suppose we can view this as only technical momentum having broken through some key resistance points, but I'm curious to see whether that spike has some predictive properties for this.

In the time of this writing, the price is at 1.9728. . .when I wake up tomorrow, I'll double check to see the outcomes of the news releases in relation to the new current price. Going under the assumption that this could be preemptive buying, I'd anticipate the price would wind higher than 1.9728 at that time that the news releases are public. It is my expectation, also, the news releases will have a positive bias, and perhaps that is what could be raising the expectations in the market.

Obviously, I'm not REALLY trying to forecast what is happening here. . .but I only need to find out if I'm correct when I wake up. . .If that I AM right, it'd give me something to contemplate.