Forex - 12/05/05

My previous trade on GBPUSD entered at 1.7295. It stopped out at 1.7325. It have a max of about 20 pips, but I was going for 30 pips. Why did it not work? I would guess that I should have not entered that cross because there was news from the UK coming out at 4:30 am EST. The next cross was a winner. I should have waited for that one because it did happen right around the same time as the news report, and the news report pushed it into profit territory. Right now 8:32 am EST I'm looking at a long trade on USDJPY. Enter at 120.92. Profit target of previous high at 121.40 and stop loss at 120.56(trend line). About a 1:1 risk to reward ratio. Let's hope it works