Forex GBP/USD 19th Dec 2007 part 4
GBP following the Weekly trend down into December lows.
Break down of support today and trending day, as it follows the Weekly trend down.
Ideally, I was hoping for this to happen from the 5-day 50% level and 'short' sell on Thursday from a higher open.
Break of support today and expectation that price remains outside the channel until the next day begins, that's why trading longs below support is open to high risk.
Posted by
Frank Dilernia