FOREX GBP/USD 28th March 2008

GBP/USD Weekly and Daily charts

Quarterly 50% level @ 2.0184 playing a resistance role for a number of weeks now...

The Shorter timeframes:- price is still trading with an UP bias trend, as it remains above the Weekly and Monthly 50% levels....

Intra-day...

Price is pushing upwards as it follows the daily ranges higher each day.

No Probability pattern on Friday:- if it's going to head towards Friday's highs then it will break risk and continue higher.

A rotation down on Friday back into the 50% levels and it will break support and look to rotate back down into the 3-day lows