Recap Y-1 to Y-0 acted as resistance. Sold off to target Y-2.
Outlook A flush low at B-2 early in the week points to consolidation for the rest of the week. If instead we get consolidation between B-1 to B-0, a bigger selloff is in the making.
Lawrence's Comment
Recap
Took off right from the start of the week and consolidated above Y+1 pointing to a push towards Y+3. At 100% absolute range expansion, heavy selling kicked ...
GBPUSD May 16 to May 20 Outlook
Y-1 to Y-0 acted as resistance. Sold off to target Y-2.
Outlook
A flush low at B-2 early in the week points to consolidation for the rest of the week.
If instead we get consolidation between B-1 to B-0, a bigger selloff is in the making.
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