GBPUSD Nov 03 to Nov 07 Outlook

By News Robot

Lawrence’s Comment

Recap
Y+1 rejected with a clean drop below Y-1. End of week shock from BOJ stopped the downward move somehow without expanding to Y-2. Closed the week near Y-1 and below midpoint.

Outlook
BOJ’s action is causing a shock and it will take a few days before the majors can find the right responses.

Chart pattern suggests that B-0 resistance with Y-3 / B-2 still in play.

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