FOREX GBP/USD 20th February 2008

GBP pushing down follwing the Weekly trend and into the Daily lows....

Expectation that when the market breaks the 3-day range, price will either move down to the bottom channel the following day, or re-test the 3-day breakout before continuing with the downtrend the next day.

On Tuesday price moved up into the 3-day break (re-test) and now heading lower into Wednesday's lows.

I can't see any major reversal around Wednesday's low otherthan, a 43 pip reversal (max 110pip )...

No high probability trades for Wednesday