GBPUSD Jan 21 to Jan 25 Outlook

By News Robot

Lawrence’s Comment

Recap
Popped higher upon open of the week, then flushed below Y-0 and my sell trigger was in place. Struggled around Y-1 for a while and eventually dropped to my target Y-2. Closed the week below Y-2 and at week low.

Outlook
As mentioned last week, the moment cable dropped below Y-0 the downside target was Y-2. This move confirmed the daily downtrend is intact and it will be difficult to trade against the trend until B-0 turning into support.

Next week looking for some more downside and then consolidation.

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