GBPUSD Aug 20 to Aug 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Was looking for a breakout and it turned into another tight range week consolidating around Y+1. Closed the week near Y+1 and at midpoint.

Outlook
Potential breakout failure in place as cable failed to close above Y+1. 4 Hour chart turning into a rising wedge / bear flag structure.

Another attempt to breakout upside like a test of B+1 that failed to go higher points to a flush back down to B-3.

That is just a bigger range consolidation within the 2 extremes defined back in end of July to beginning of August. No clear direction yet.

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