Trading Edges That Last
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As Featured In
GBPUSD May 26 to May 30 Outlook
Lawrence’s Comment
Opened holding above the resistance mentioned last week. Cable has no choice but squeezed back up to Y+1. Rejected by Y+1, sending it back down to Y-0 again. Closed the week near Y-0 and below midpoint.
Outlook
Y+1 rejected decisively creating a strong resistance from Y-0 to B-0. Continuation selloff points to B-3 in play as long as B-0 can cap any bounce.
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