The point is that under current market circumstances thtere is possible strong breakout either up or down, and it's most likely to happen during news release. However in other hand there is much more likely that neither approaching UK MPC Meeting Minutes nor any other tommorow or day after tommorow data will trigger such break out. Personally I do expect breakout to occure and I do expect not to get into bigest move of all. However awarnes of inevitability of such move I am alredy prepared to know what will happen just after. And that's the point of trading.

So nearest data releases should rather bring another bounc trade oportunities and eventually one that establish new direction for USD pairs. It's important to keep significant levels in mind to not get sweaped by such move.

MPC Meeting Minutes for the first time from two months will be published with no any other significant data released at the same time. There should be no big surprise on it. That is possible that black swan hunters will buy some pounds before the news, what may cause spike just after release [no matter what exact data will be]. My idea is to trade highly doyable trendline based on lower lows on recent 30M chart. It would be the best to keep some tiny Take Profit @ 1.6385 to cover possible losses. If price will manage to break lower, there is nice another 100 pips to cash in. However if suprise have happen, bounce down is still highly probable, but it's hard to say how high.

If price will break 1.6380 before the news and won't bounce back, I would stay away of the market during release.

On Bernake Testimony I will comment later today.