GBPUSD Sep 16 to Sep 20 Outlook

By News Robot

Lawrence’s Comment

Recap
As expected, a strong swing emerged after all those spikey moves. Clearing Y+2 as mentioned last week is not something to counter. Closed the week near week high and above Y+3.

Outlook
Very interested in the price reaction in Y+4 to 1.60 area. The strong move higher was the consequence of a big fight down there below Y+1 where the bears lost. That was back then. Now Cable has put in so many pockets and voids below, it will have a very hard time going much higher.

Consolidation around B+1 with down side bias later in the week to retest B-0 / Y+2.

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