Recap Trapped in same range as in past several weeks. Then downside breakout happened. Closed the week near Y-1 and below midpoint.
Outlook For the breakout to continue, Y-1 must act as resistance and force cable lower quickly. FBO against Y-1 will produce a sharp squeeze higher back up to challenge Y+1.
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Lawrence's Comment
Recap
Consolidation play around Y-1 then wild swings due to news shocks later in the week. Closed the week below Y-0 and near week high.
Outlook
Cable anchored itself to ...
GBPUSD Aug 10 to Aug 14 Outlook
Lawrence’s Comment
Trapped in same range as in past several weeks. Then downside breakout happened. Closed the week near Y-1 and below midpoint.
Outlook
For the breakout to continue, Y-1 must act as resistance and force cable lower quickly. FBO against Y-1 will produce a sharp squeeze higher back up to challenge Y+1.
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