GBPUSD Jul 07 to Jul 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Another easy play last week. Cable broke out to the upside. Traded above Y+3 as expected. Consolidation around Y+3 since. Closed the week near Y+3 and above midpoint.

Outlook
The breakout run has used up its fuel on daily basis. There is still some room to go next week but it will be difficult to go much higher until we see pullback actions.

Consolidation within B+1 and B-0 is normal. A pullback to Y+1 slowly is also normal.

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