Trading Edges That Last
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GBPUSD Mar 09 to Mar 13 Outlook
Lawrence’s Comment
The breakdown play worked out. Cable cleared 1.53 quickly and dropped down to Y-2 for a pause. That did not last long and cable just break down at the end. Closed the week below Y-3 and at week low.
Outlook
Momentum so strong rarely just stop there so more downside is expected. Very difficult to tell if 1.50 will unlock more stops or not. If cable manages to spike low below Y-4 and snap back above B-1, cable will likely consolidate in tight range for the rest of the week.
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