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GBPUSD Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Y-0 breached early in the week put Y+1 in play. Y+1 tagged but cable failed to hold above it. Stuggled between Y+1 and Y-0 since. Closed the week above Y-0 and midpoint.
Outlook
3rd week trapped in the same range is very strong compression. Breakout mode in place. First move out of the range has to be strong enough to carry cable outside of the range by 25% or the mode can be a fake out.
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