Forex GBP/USD 14th Dec 2007



Trading below December 50% levels and now below Weekly 50% level, but 3-day cycle is still a BUY.


90 pip spiral top, matching the 5-day 50% level and Weekly 50% level, and expectation that price has more of a chance to head down than up..

Below timeframe 50% level and expectation is to head down into channel lows.

Above 5-day 50% level, don't short.