GBPUSD Jul 14 to Jul 18 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation as expected. 50% range. Closed the week above Y-0 and below midpoint.

Outlook
Inside week with a mildly weak close points to retest of B-1 likely. That can open the door to further pullback down to B-2. This is just normal pullback actions to find acceptance at the current price level.

Only if B-1 is breached forcefully with flush action down to B-3 that we can consider the past 2 weeks a weekly level FBO. If that is the case, cable has run its bullish course on weekly.

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