FOREX GBP/USD 14th Feb 08 part 3

GBP continued upwards into the 110 pip high on Thursday and consolidating around Thursday's high.

Around the top there has been a double 43 pip rejection...

Whilst price is moving down on Thursday from a 110 pip high the expectation remains that it will move down 110 pips

However, once Friday begins there is a good chance that Friday will look to move towards Friday's highs, which match the Weekly .618 range (previous Report)