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GBPUSD Nov 21 to Nov 25 Outlook
Lawrence’s Comment
Euro zone rumors / news shock dropped cable down to Y-1 thus opened the doorway to Y-2. Tagged Y-2 and bounced back up to Y-1. Y-1 acted as resistance and the pair closed the week below Y-1.
Outlook
News shock can force a market to swing in unexpected direction yet the resulting price movement is still bounded by the STOPD levels. So it is safe to assume players in control know about the potential alternative outcome and are prepared for this.
Retest of B-1 is expected early in the week. If that holds, we should get at least a retest of B-0.
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