GBPUSD Feb 01 to Feb 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Cable found support at Y-0 for a test of Y+1. Y+1 resistance on first try and sent cable back down to Y-0. Second attempt at Y+1 led to FBO and sent cable back down to week low. Closed the week near Y-0 and below midpoint.

Outlook
Reversal attempt on daily level failed. 4 Hour up channel / bear flag last week points to retest of Y-1 in the making. As long as B-0 / Y-0 zone acting as resistance B-2 in play.

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