Trading Edges That Last
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GBPUSD Jul 04 to Jul 08 Outlook
Lawrence’s Comment
No breakout. Simply consolidated within Y-1 to Y-0.
Outlook
Y-0 is the resistance area we are looking for a clue for continuation selloff or a break of the downtrend. So far pressed below Y-0 means at least one more test of Y-1 to B-1 is in play.
The more profitable setup and also less likely – if cable holds above B-0 and start to run up above Y-0 to B+1, we get B+2 and B+3 quickly.
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