Trading Edges That Last
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As Featured In
GBPUSD Oct 12 to Oct 16 Outlook
Lawrence’s Comment
Rallied from the support zone mentioned last week and tagged Y+2 and above as expected. Y+3 crime scene tagged and stopped the run up. Closed the week near Y+2 and above midpoint.
Outlook
Wide range reversal with strong close likely produce a follow thru after a mild pullback. This puts B-0 / Y+1 in play as support for a retest of B+1 and the higher crime scene at B+2 where the original breakdown happened. How cable develops within B+1 and B+2 will decide if the monthly down trend can continue.
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