GBPUSD 12-21-06

12-21-06

GBPUSD

If you were brave enough to buy the pullback to 1.9703, you got a small gain up to 1.9725 depending on the time you bought it. The buyers finally were absorbed, and the GBPUSD has moved down to the 1.9632 breakout area. It is getting ready to rally out of this area right now, but it has a fresh area of supply at 1.9697. I am going to trade long right here at 1.9650 and then I am planning to short that 1.9697 area if the GBPUSD rallies straight up to the area without basing anywhere near it. Those are my two trades for Friday.