Recap Upside breakout of Y+1 confirmed the bullish scenario with Y+2 tagged. Consolidation since. Closed the week near Y+2 and above midpoint.
Outlook Rising wedge potential means a break of the support line will easily send cable back down to B-1. Cable is entering the highest risk time window now as Brexit vote is too close to ignore. Beware of news shock everyday.
Lawrence's Comment
Recap
Euro bounced off Y-1 back to Y-0 / 1.10 long term support which is now strong resistance. Closed the week below Y-0 and above midpoint.
Outlook
Euro daily level ...
GBPUSD May 02 to May 06 Outlook
Lawrence’s Comment
Upside breakout of Y+1 confirmed the bullish scenario with Y+2 tagged. Consolidation since. Closed the week near Y+2 and above midpoint.
Outlook
Rising wedge potential means a break of the support line will easily send cable back down to B-1. Cable is entering the highest risk time window now as Brexit vote is too close to ignore. Beware of news shock everyday.
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