Recap Cable holding previous week close early in the week started a breakout until 100% absolute range expansion is reached. Closed the week near Y+2 and above midpoint.
Outlook This last push higher clearing 1.56 was a major stop run. This makes the rally unstable and a pullback to B-0 / Y+1 is likely.
Lawrence's Comment
Recap
Euro broken out to the upside after news shock. Stayed in a tight range above Y+1 since. Closed the week above Y+1.
Outlook
Critical week.
If euro can stay ...
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Lawrence's Comment
Recap
Cable trapped within previous week range all week. Not even FOMC announcement can push it out of the range. Closed the week above Y-0 and midpoint.
Outlook
Hourly inverse ...
GBPUSD May 18 to May 22 Outlook
Lawrence’s Comment
Cable holding previous week close early in the week started a breakout until 100% absolute range expansion is reached. Closed the week near Y+2 and above midpoint.
Outlook
This last push higher clearing 1.56 was a major stop run. This makes the rally unstable and a pullback to B-0 / Y+1 is likely.
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