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.
Lawrence's Comment
Recap
A higher high and higher low on weekly finally formed.
Outlook
As long as Y-1 acts as support, we have a confirmed long term bottom for the pair in ...
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Lawrence's Comment
Recap
Cable gapped down and tagged Y-2 first. The stage was set for an up drift back to Y-1. Consolidation week around open instead of previous week close. Closed the ...
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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