FOREX GBP/USD 19th March 2008 part 3


GBP failed to break the 5-day 50% level and has drifted back down into the 3-day lows, and Weekly .618

Both the Weekly .618 and monthly 50% levels are still major support zones.

GBP intra-day charts

Currently supported and consolidating above the 3-day lows.

Bearish pattern is a break below both the Weekly .618 and the 3-day lows on Wednesday.