Forex GBP/USD 27th Feb 2008

GBP has followed the rotation upwards from Quarterly lows and is moving towards March 50% level.

Ideally I was looking for 1 more consolidating day before the market moved higher:- 2-day stall 3rd day UP move using the 5-day 50% level as support.

Tuesday moved into a breakout of the 3-day high, and will probably go a test Wednesday's high...

Resistance:- Wednesday's high

Support:- Tuesday's 3-day breakout and 5-day 50% level @ 1.9724