Trading Edges That Last
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GBPUSD Sep 05 to Sep 09 Outlook
Lawrence’s Comment
Lifted higher to resistance before the test of Y-1, giving it enough fuel to break below Y-1 for 100% absolute range expansion before stopping. Closed the week at Y-1.
Outlook
Y-1 turning into resistance will send the pair lower to Y-2.
Breaking above can send it up to Y-0 quickly.
The more interesting scenario is a double bottom at B-1 and then breaking above Y-0, that will confirm an important bottom is in with target of at least B+2.
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