Recap Y-0 support for the 2nd leg up towards Y+2. Failed to push above Y+2 and stalled. Friday event led to fade out to new high before collapsing lower back down below Y+1 and midpoint. Closed the week below Y+1 and midpoint.
Outlook Y+1 / B-0 now confirmed resistance until poven otherwise. A test of Y-0 / B-1 in play.
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GBPUSD Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Y-0 support for the 2nd leg up towards Y+2. Failed to push above Y+2 and stalled. Friday event led to fade out to new high before collapsing lower back down below Y+1 and midpoint. Closed the week below Y+1 and midpoint.
Outlook
Y+1 / B-0 now confirmed resistance until poven otherwise. A test of Y-0 / B-1 in play.
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