Forex GBP/USD 7th Dec 2007



Weekly Trend down and expectation to head towards December lows.

Thursday:- I was looking for an UP move on GBP to short-sell down into channel lows, but price instead continued down into Daily support.

Friday:- same trend guide of using the 5-day 50% level.

Lower Weekly close and expectation of a 2-3 day up move next week towards Weekly 50% level and trailing 3-day highs.