Trading Edges That Last
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GBPUSD Sep 19 to Sep 23 Outlook
Lawrence’s Comment
Mentioned to avoid this pair last week. And here it is, in tight range consolidation with no direction at all. Closed the week below Y-1.
Outlook
The sideline movement has actually helped cable to break above its down channel without giving us any hint of direction (bravo!).
The down channel resistance line dropped to B-1 area . If a retest of B-1 resulted in a bounce taking out B+1, expect a strong rally to tag at least B+3.
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