GBPUSD Oct 03 to Oct 07 Outlook

By News Robot

Lawrence’s Comment

Recap
Bounced back upto the pre-breakdown level as expected. But that was all it could do and stalled back down to Y-0 and consolidated since. Closed the week above Y-0 and midpoint.

Outlook
2 weeks in a row closing close to the same midpoint points to indecision. Inside week formation is telling the same. Cable is now officially in breakout mode and we should wait for the breakout first before jumping on board.

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