GBPUSD Feb 28 to Mar 04 Outlook

By News Robot

Lawrence’s Comment

Test of Y+1 and failed, sell back down to Y-0. Bounced off Y-0 and retest Y+1 again. The new low breaking the low made earlier in the week points to further weaknesses. The week ended with a bounce off the first week low of the month.

Closing a month within the initiation range implies uncertainty or balance. Thus revising B-0 is very likely early next week.
Due to the balanced nature, it will take the first week of March to be completed before we can tell the direction more clearly.


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