GBPUSD Oct 12 to Oct 16 Outlook

By News Robot

Lawrence’s Comment

Recap
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.

Share

  • You must be logged in to comment. Log in