Recap Strong resistance above on higher timeframe gave us a freefall back down to below Y-1. Yet central banks working together turned the move into FBO against Y-1 and slingshot cable back up to Y+1. Closed the week above Y+1 and near week high.
Outlook Pure surprise move caught majority of players offguard. As long as Y+1 acting as support, a push towards Y+2 and above in play. Y+1 turning into resistance will give us a drop to B-0 and below.
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Lawrence's Comment
Recap
The intervention I've been talking about happened. It illustrates why we cannot trade the short side of this pair when it was drifting downward as we cannot tell ...
GBPUSD Mar 21 to Mar 25 Outlook
Lawrence’s Comment
Strong resistance above on higher timeframe gave us a freefall back down to below Y-1. Yet central banks working together turned the move into FBO against Y-1 and slingshot cable back up to Y+1. Closed the week above Y+1 and near week high.
Outlook
Pure surprise move caught majority of players offguard. As long as Y+1 acting as support, a push towards Y+2 and above in play. Y+1 turning into resistance will give us a drop to B-0 and below.
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