Recap Pullback to support zone mentioned last week as expected. Attempt to bounce back up failed to clear 1.57 weekly resistance. Closed the week below Y-0 and midpoint.
Outlook Inside down week with midpoints near each other is mildly bearish. It points to test of Y-1 likely. A break of Y-1 points to gap fill of the open gap below which also ends the cable weekly up trend.
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Lawrence's Comment
Recap
Sharp pullback in the beginning of the week fulfilled the minimal pullback expectation. Pre-Brexit weekly close support sent NQ straight up. 50% absolute range expansion reached. Closed the week ...
Lawrence's Comment
Recap
Upside push failed to clear Y+1 resistance resulted in retest of Y-0. Break of Y-0 in just 1 try, gapped to Y-1 and flushed down to Y-2 target mentioned ...
Lawrence's Comment
Recap
Tight range consolidation all week even though US dollar has strengthen across the board last week. Good example of low participation translate into meaningless price movements on higher timeframes. ...
GBPUSD May 25 to May 29 Outlook
Lawrence’s Comment
Pullback to support zone mentioned last week as expected. Attempt to bounce back up failed to clear 1.57 weekly resistance. Closed the week below Y-0 and midpoint.
Outlook
Inside down week with midpoints near each other is mildly bearish. It points to test of Y-1 likely. A break of Y-1 points to gap fill of the open gap below which also ends the cable weekly up trend.
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