Recap A perfect consolidation week. Drifted up to resistance mentioned last week and then dropped down to support. Can’t ask for more. Closed the week below Y-0 and midpoint.
Outlook Inside week. Y-0 and B-0 near each other. Breakout mode in place.
Until Y+1 or Y-1 is breached, there will be no directional play.
It may take more than a few tries at the boundaries before they are finally breached.
Lawrence's Comment
Recap
Took no time to tag Y+2. Pullback right after bounced off Y+1. That points to more upside potential. Eventually breakout above Y+2 and completed 100% absolute range ...
Lawrence's Comment
Recap
First significant pullback after the 400+ pips rally. Closed the week below Y-0 and midpoint. Inside week.
Outlook
I am still looking for long only. As long as B-1 ...
GBPUSD Feb 03 to Feb 07 Outlook
Lawrence’s Comment
A perfect consolidation week. Drifted up to resistance mentioned last week and then dropped down to support. Can’t ask for more. Closed the week below Y-0 and midpoint.
Outlook
Inside week. Y-0 and B-0 near each other. Breakout mode in place.
Until Y+1 or Y-1 is breached, there will be no directional play.
It may take more than a few tries at the boundaries before they are finally breached.
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