GBPUSD Feb 11 to Feb 15 Outlook

By News Robot

Lawrence’s Comment

Recap
Bounced back to Y-0 early in the week. Y-0 stopped the bounce and gave us a drop down to new low below Y-1. Stopped going lower before touching downside target of Y-2. Spiked above Y-0 triggered a rally back up. Stopped right after printing 100% absolute range expansion. Closed the week above Y-0.

Outlook
2nd time with very strong reaction right after previous week low was breached. Potential swing bottom in the making.

If cable can clear B+1 quickly, B+2 will be tagged quickly.

As long as B+1 acting as resistance, looking for one more try to tag the Y-1 to B-0 area before cable take off going higher.

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