This is as of Oct,07-2009. The trend line(support line) is broken in the day chart around a week ago. It looks like now it is retracing back to the trend line and then fall again. Once it retraces back to the trend line and then starts falling I will enter the trade. I will also look for any candle stick formations.

It may not retrace back also. If it suddenly falls from the point shown in the figure, I will enter the trade. What do you guys say? Do you think this trade will work out?

GBPUSD support line was broken a week ago and looks like it is now retracing back to the trend line.