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GBPUSD Sep 02 to Sep 06 Outlook
Lawrence’s Comment
Failed to challenge Y-0, bias for the week to tag Y-2 materialized. At 100% absolute range expansion, cable found support and bounced back up. Closed the week below Y-1 and midpoint.
Outlook
The obsession with 1.50 continues. To turn bullish, need to see cable move above Y-1 and then 1.50 / B-0 zone acting as support, that will be a good platform for a run to at least B+1.
As long as Y-1 acting as resistance, further downside in play.
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