GBPUSD Jun 03 to Jun 07 Outlook

By News Robot

Lawrence’s Comment

As expected, breaching Y-1 induced buying enough to take out Y-0 quickly. That was the easy part. But then cable failed to push beyond the double bottom target visible on 4 hours. Closed the week above Y-0 and midpoint.

As long as B-0 acting as support, we have a potential double bottom reversal from 4 hours that gives us a move upto B+2 area. If cable failed to clear Y+1 on 1st test from below, a retest of B-1 will be in play.


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