Recap Cable reversed its down trend from exactly the level I mentioned last week and zoomed to Y+1. Very strong reaction to Y+1 bringing cable back down to Y-1. Closed the week above Y-0 and midpoint.
Outlook Short term low in place but not in daily up trend yet. This implies consolidation with messy swings inside this week’s range.
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Lawrence's Comment
Recap
Snapped back up to Y-0 as predicted. Failed to hold above Y-0 and falled back down to Y-1. Effectively consolidated within Y-1 to Y-0 area. Closed above midpoint ...
GBPUSD Mar 23 to Mar 27 Outlook
Lawrence’s Comment
Cable reversed its down trend from exactly the level I mentioned last week and zoomed to Y+1. Very strong reaction to Y+1 bringing cable back down to Y-1. Closed the week above Y-0 and midpoint.
Outlook
Short term low in place but not in daily up trend yet. This implies consolidation with messy swings inside this week’s range.
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