Recap FBO against Y-1 early in the week sent cable back up to 100% absolute range expansion. Stalled from there since. Closed the week above Y-0 and midpoint.
Outlook Signs of a bottom in the making. However, cable may have to retest B-0 and near Y-1 first to form a proper bottom.
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GBPUSD Dec 15 to Dec 19 Outlook
Lawrence’s Comment
FBO against Y-1 early in the week sent cable back up to 100% absolute range expansion. Stalled from there since. Closed the week above Y-0 and midpoint.
Outlook
Signs of a bottom in the making. However, cable may have to retest B-0 and near Y-1 first to form a proper bottom.
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