Trading Edges That Last
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GBPUSD Sep 14 to Sep 18 Outlook
Lawrence’s Comment
Cable snapped out of its tight down channel to the upside which led to a charge towards the start of the channel at Y+1. Y+1 tagged and cable stalled since. Closed the week near Y+1 and above midpoint.
Outlook
The bearish flush pattern did not play out, hence this rally will not be strong enough to carry far. Failing to clear 1.55 will drop cable back down to Y-0 / B-0 zone. A retest of B-1 is likely within next few weeks.
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