http://www.intel.com/Assets/PDF/manual/248966.pdf (section 2.3.3.4)
if no dynamic prediction is available or if it is invalid, the ability to statically
predict the outcome based on the offset of the target: a backward branch is
predicted to be taken, a forward branch is predicted to be not taken

http://www.intel.com/Assets/PDF/manual/248966.pdf (section 3.4.1)
Pentium M, Intel Core Solo and Intel Core Duo processors have similar static predic-
tion algorithms that:
•   predict unconditional branches to be taken
•   predict indirect branches to be NOT taken
In addition, conditional branches in processors based on the Intel NetBurst microar-
chitecture are predicted using the following static prediction algorithm:
•   predict backward conditional branches to be taken; rule is suitable for loops
•   predict forward conditional branches to be NOT taken
Pentium M, Intel Core Solo and Intel Core Duo processors do not statically predict
conditional branches according to the jump direction. All conditional branches are
dynamically predicted, even at first appearance.
