GBPUSD Aug 01 to Aug 05 Outlook
By News Robot
Lawrence’s Comment
Recap
Cable trapped within previous week range all week. Not even FOMC announcement can push it out of the range. Closed the week above Y-0 and midpoint.
Cable trapped within previous week range all week. Not even FOMC announcement can push it out of the range. Closed the week above Y-0 and midpoint.
Outlook
Hourly inverse head and shoulder now gone, leaving the spike and ledge on 4 hours intact. Breaking below Y-1 / B-1 points to B-3 and below 1st target.
Comments
The whole H4 structure now looks like a bottom formation?