FOREX GBP/USD Weekly 14th June 2008

Last Week's expectation was to trade the 'short' side of the market down, because of price trading below the higher timeframe 50% levels, along with a higher Weekly open.

This week is much of the same....

Previous Weely report

GBP Weekly and Daily charts

Higher Weekly open and break of the Weekly 50% level sending GBP lower.

Next Week's view is a rotation towards the Weekly 50% level and then a continuation down into the Weekly lows, which match June's lows.

GBP 3-day pattern