GBPUSD Sep 08 to Sep 12 Outlook

By News Robot

Lawrence’s Comment

Recap
FBO against Y+1 triggered all out dumping to Y-3. After a pause, the stop run sent cable down to 1.63. Closed the week below Y-5 and near week low.

Outlook
Cable broke down with euro as ECB’s sudden rate cut sent the world a surprise message. The 2nd part of the drop was clear stop run implying a bounce back upto B-0 will be likely within a week or two. This week consolidation around previous week close is likely.

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