FOREX GBP/USD 25th March 2008 part 3

GBP/USD Daily and and intra-day charts

GBP/USD has completed the 2-day reversal pattern back into the Weekly 50% level.

The rest of the trading day has a random outcome, as price can continue higher into the next day as it chases the new 3-day highs on Wednesday.

At this begining of the trading week I had two views on the direction, and this rotation back into the Weekly 50% level was the first (confirmed with the break of the 3-day highs), and I'll need to see how the trading day closes to get a better view on Wednesday's trading.