Recap Found support from Y-1 / previous week close and started an up drift back up to Y-0. Closed the week below Y-0 and above midpoint.
Outlook Thin up channel / up drift back to Y-0 is bearish. Cable may still try to break B+1 to get back to the break down crime scene near Y+2. If violent reactions taking cable back below B+1, a slide back down to Y-1 and below will be likely.
Lawrence's Comment
Recap
No continuation selloff. Instead we got a consolidation week. ES moved around Y+1 with no directional push until end of the week after NFP report. Closed the week above ...
Lawrence's Comment
Recap
The critical support level failed and slided towards my target. Picture perfect FBO on weekly and monthly level. Closed the week below Y-2.
Outlook
If Y-3 is tagged early ...
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GBPUSD Nov 16 to Nov 20 Outlook
Lawrence’s Comment
Found support from Y-1 / previous week close and started an up drift back up to Y-0. Closed the week below Y-0 and above midpoint.
Outlook
Thin up channel / up drift back to Y-0 is bearish. Cable may still try to break B+1 to get back to the break down crime scene near Y+2. If violent reactions taking cable back below B+1, a slide back down to Y-1 and below will be likely.
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