As with practically everything that moves, I've been watching this for a while. My last trade was a swing short back in June of 2011.
It does tend to be slow moving which makes it more cost effective to trade on futures contracts rather than daily contracts where the financing can
I'll be completely straight with you here.... This is not a trade I could take and sleep well, however, Channel Back Tests are a type of set-up I've had great results with on a number of pairs over the last year, most recently on GBP:CHF
A quick post to update on an unqualified rumour that I first became aware of through a Bulletin Board post, parts of that post I've reproduced below.
Further research into the validity of the rumour does suggest there may be some truth in it and although the original source doesn't have anything to gain from trading it, subsequent sources potentially do.