GBPUSD Week of Dec 6th to Dec 10th Outlook

By Lawrence

Recap of last week

Test of yellow zone leaded to further downside movement, but did not make it to the target area. Effective stuck in the range established in Monday and when breakout upside worked out, tagged 2x weekly open range area.


Next week outlook

Current quarter open range low (October low) failed to act as resistance, so open range midpoint is the first target area to tag (yellow zone). Sell from there target red zone which is effectively October low. If yellow zone does not act as resistance at all, next target is quarterly open range high (October high, green zone).


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