GBPUSD Jan 13 to Jan 17 Outlook

By News Robot

Lawrence’s Comment

Recap
All week bear flag drift up. Tagged resistance at Y-0 before NFP and sold off right after. Wild reaction at Y-1 and erased the drop. Closed the week below Y-0 and above mipoint.

Outlook
Original downside target not reached yet. Bear flag is supposed to be bearish yet cable managed to invalidate the bear flag from the news shock. We need 2nd confirmation from B-0 / B+1 acting as resistance to be sure that the pullback can resume.

Downside target expanded to B-2.

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