Trading Edges That Last
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GBPUSD Sep 12 to Sep 16 Outlook
Lawrence’s Comment
As expected sold off from our resistance area. Better yet it dropped more than the minimal target to below Y-2 clearing the way to tag Y-3. Closed the week near Y-3.
Outlook
Controlled channel drop with no surprises nor breakout upside or downside at all. That is very unusual because Euro was toasted big time yet cable is not following closely. That tell us that cable has hidden strength building up and possibly a bottom in the making.
Will avoid this pair next week as it will be difficult to predict which way the channel will snap out of first.
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