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GBPUSD Jun 25 to Jun 29 Outlook
Lawrence’s Comment
Rallied a bit more to the upside and fulfilled the upside target as mentioned last week. News shock later in the week sent cable back down to Y-0. Closed the week near week low and Y-0.
Outlook
Cable is sitting at the bottom of an upchannel. Depending the timeframe you use, it can be either sitting at the support or already broken and right below that.
Early next week if cable can pop back above B-0, then another leg going higher to above B+1 is likely.
If cable spends a lot of time around B-1 and only drift up to B-0, it is likely the short term uptrend is over and a stronger pullback is due with target at B-2 or lower.
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