Recap Test of Y+1 and failed, sell back down to Y-0. Bounced off Y-0 and retest Y+1 again. The new low breaking the low made earlier in the week points to further weaknesses. The week ended with a bounce off the first week low of the month.
Outlook Closing a month within the initiation range implies uncertainty or balance. Thus revising B-0 is very likely early next week. Due to the balanced nature, it will take the first week of March to be completed before we can tell the direction more clearly.
Lawrence's Comment
Recap
Previous week close acted as resistance, gave us a quick drop back down to Y-0. Bounced from Y-0 yet failed again to clear previous week close told us Dow ...
Lawrence's Comment
Recap
Mentioned to avoid this pair last week. And here it is, in tight range consolidation with no direction at all. Closed the week below Y-1.
Outlook
The sideline movement has ...
GBPUSD Feb 28 to Mar 04 Outlook
Lawrence’s Comment
Test of Y+1 and failed, sell back down to Y-0. Bounced off Y-0 and retest Y+1 again. The new low breaking the low made earlier in the week points to further weaknesses. The week ended with a bounce off the first week low of the month.
Outlook
Closing a month within the initiation range implies uncertainty or balance. Thus revising B-0 is very likely early next week.
Due to the balanced nature, it will take the first week of March to be completed before we can tell the direction more clearly.
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