GBP/USD 12 November 2007


GBP/USD broke trailing support on Friday and headed down into the 3-day lows, and are now currently below those 3-day lows…

The critical level in any major trend reversal from November highs is the Weekly 50% levels….

Don’t trade longs below those 50% levels, and it’s a bit early to be looking for a 2-day up move from these levels without confirming intra-day cycles

Read previous report….