GBP/USD Weekly 13th September 2008

GBP Weekly and Daily

Friday's higher close and the expectation is that price is moving back into September 50% level @ 1.8440

Next Week's balance point is once again the trend guide, therefore Ideal patterns would be trading lower Daily opens using support to trade up into higher Daily close.



GBP 3-day pattern

A couple of probability 'sell' patterns from the 5-day 50% levels on Tuesday and Wednesday.

Friday:- This is the first time that there has been 3-day dynamic range breakout since June.

Therefore the expectation is a pullback into testing the 3-day high breakout next week, and then continuing higher towards September 50% level

No trades on GBP this week