GBPUSD Sep 09 to Sep 13 Outlook

By News Robot

Lawrence’s Comment

Recap
Cable zoomed back up and held my support zone. That gave us a go for the Y+1 and above play. Cable zoomed higher later in the week. Closed the week above Y+1 and midpoint.

Outlook
Price actions last week having spikes everywhere usually happens before a significant run is about to emerge. Any price shock, no matter news driven or not, that breach B+2 or B-2, will be a sign that the breakout is in place and it will not be a good idea to counter the move.

If the market behaves normally next week, cable should be range bounded between Y+2 and B-0.

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