Trading Edges That Last
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GBPUSD Jul 13 to Jul 17 Outlook
Lawrence’s Comment
Cannot clear previous week close and led to all out selloff down to Y-3 target. Bounced from Y-3 and tested Y-1 from below. Closed the week below Y-1 and above midpoint.
Outlook
As long as Y-1 is capping Cable B-1 will be retested.
Due to the flush low nature last week, a more complex pullback can be in the making with Y-2 / 1.54 being the support to kick start an up drift to challenge B+1 and then Y-0 in coming weeks.
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