FOREX GBP/USD Weekly 9th August 2008

GBP Weekly

GBP has completed the move down into the Quarterly lows, and with the breakout of August lows there is an expectation that price will continue lower in September.....


GBP Daily

GBP Thrust pattern from the August 50% level, and the entire Weekly timeframe continues down breaking the August lows.

Expectation GBP continuing down into the Weekly lows next week, before any potential reversal UP next Week :- short term counter-trend move.

GBP 3-day pattern

Compared to the other 2 spreads, there wasn't a probability pattern alignment to 'short'- trade down :- IE 3-day filter or 5-day 50% level.