Trading Edges That Last
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GBPUSD Aug 19 to Aug 23 Outlook
Lawrence’s Comment
Got the pullback/ Yet not quite down to Y-0. Got the rally to new high, yet not quite up to the target Y+2. Behaved like a consolidation week in terms of range coverage. Closed the week above Y+1 and midpoint.
Outlook
Too weak to give us a confirmed breakout.
A break of B-0 with Y+1 acting as resistance will produce a FBO against Y+1. If that is triggered, Y-0 and Y-1 will be in play.
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