GBPUSD Jul 16 to Jul 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.

Outlook
The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.

I need to see the first 2 swings next week to determine a push to B+2 is possible.

Share

  • You must be logged in to comment. Log in