GBPUSD Apr 11 to Apr 15 Outlook

By News Robot


Lawrence’s Comment

Recap
Sell formation not materialized. Breach of Y+1 earlier in the week points to breakout target of Y+2 and Y+3. That worked out well and closed the week at Y+3 area.

Outlook
Sudden reversal always trap the players on the other side of the move making it more powerful. A pullback to B-0 should not happen if the pair wants to continue its run to Y+4.
The interesting scenario is that B-0 tagged early in the week and Y+3 turns into resistance, we then have a w. upthrust that can send the pair back down to B-1 quickly.

Share

  • You must be logged in to comment. Log in