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Lawrence's Comment Recap Consolidation around previous week close / Y+1 as expected. 50% range. Closed the week above Y+1 and midpoint. Outlook Consolidation around Y+1 is bullish. Up channel like behaviour at ...READ MOREHot n Cold (GBPUSD) 2019-6-28Intraday Cycle Projection (GBPUSD) 2011-06-243DP Odds Table (GBPUSD) 2012-10-08USDCAD Jul 27 to Jul 31 OutlookAUDUSD Mar 20 to Mar 24 OutlookEURUSD Dec 17 to Dec 21 OutlookIntraday Cycle Projection (GBPUSD) 2017-11-06Hot n Cold (GBPUSD) 2011-9-9Intraday Cycle Projection (GBPUSD) 2013-12-19Weekly Cycle Projection (GBPUSD) 2015-11-30
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GBPUSD Apr 27 to May 01 Outlook
Lawrence’s Comment
Was expecting consolidation actions and cable did in the first half of the week. Then everything changed as the test of Y+1 did not produce a quick drop and instead turning 4 hours into a bull flag and led to a breakout to the upside. Closed the week above Y+1 and near week high.
Outlook
The outside reversal from the week before last continue to trap more shorts along the way. This probably gives cable enough fuel for Y+2 / B+2 zone. The big question is whether that’s all cable gets on its weekly level pullback against the dominating down trend.
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