Recap Cable went sideway until ECB announcement. Successfully filled the open gap above as expected. Closed the week above Y+1 and midpoint.
Outlook Strong resistance zone above B+1 upto B+2 where the higher timeframe resistance all lined up. Failing to hold above B-0 will lead to a drop back down to Y-0 and below.
Chart with key levels. Purple horizontal lines mark the 2012 range. Light purple horizontal line marks the 50% expansion. Blue lines down channel. Red lines ...
GBPUSD Mar 14 to Mar 18 Outlook
Lawrence’s Comment
Cable went sideway until ECB announcement. Successfully filled the open gap above as expected. Closed the week above Y+1 and midpoint.
Outlook
Strong resistance zone above B+1 upto B+2 where the higher timeframe resistance all lined up. Failing to hold above B-0 will lead to a drop back down to Y-0 and below.
Share