Recap Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more likely.
Lawrence's Comment
Recap
Bullish scenario happened where Y-0 was taken out quickly. Y+1 target reached. Stalled back down to Y-0. Closed the week above midpoint.
Outlook
Strong reaction at Y+1 indicates strong resistance ...
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Lawrence's Comment
Recap
As mentioned last week, once 2350 is taken out, 50% upside range expansion is expected and that is 2380 area. All attempts to stop the rally in ...
Lawrence's Comment
Recap
Once Y-1 was breached, down side range expansion started. Yet the selloff was not able to land at Y-2 target. Closed the week below Y-1.
Outlook
News shock after news ...
GBPUSD Jul 27 to Jul 31 Outlook
Lawrence’s Comment
Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook
Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more likely.
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