GBPUSD Aug 01 to Aug 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Cable trapped within previous week range all week. Not even FOMC announcement can push it out of the range. Closed the week above Y-0 and midpoint.

Outlook
Hourly inverse head and shoulder now gone, leaving the spike and ledge on 4 hours intact. Breaking below Y-1 / B-1 points to B-3 and below 1st target.

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Comments
  • melvyn August 5, 2016 at 3:03 am

    The whole H4 structure now looks like a bottom formation?

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