Recap Pure drifting weaknesses. Y-1 acted as resistance yet cable did not drop to Y-2, just drift slowly towards it. Late reversal attempt failed to push cable to close above Y-1. Closed the week above midpoint near Y-1.
Outlook Potential bottom in the making. Like to see clean breakout above B+1 and that the zone B-0 to B+1 turning into support for swing long.
Failing to breakout above B+1 points to further weaknesses.
Lawrence's Comment
Recap
Another week of consolidation as expected. Bear flag in beginning of the week drove the price down to Y-1 for a retest. W. spring formed and sent it back ...
Lawrence's Comment
Recap
Inside week with minimal actions. Closed the week near Y-0 and below midpoint.
Outlook
A retest of Y-1 is likely as long as ninja cannot clear B+1. Weekly level ...
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Lawrence's Comment
Recap
Aussie bounced with the rest of the majors due to dovish expectation / rumors all week. As expected, Y-0 was tested aftter Y-1 acted as support. Wild swings around ...
Lawrence's Comment
Recap
Failed to push above bear flag resistance. Bear flag support broken later in the week leading to all out flush down to Y-1. Closed the week below ...
GBPUSD Nov 19 to Nov 23 Outlook
Lawrence’s Comment
Pure drifting weaknesses. Y-1 acted as resistance yet cable did not drop to Y-2, just drift slowly towards it. Late reversal attempt failed to push cable to close above Y-1. Closed the week above midpoint near Y-1.
Outlook
Potential bottom in the making. Like to see clean breakout above B+1 and that the zone B-0 to B+1 turning into support for swing long.
Failing to breakout above B+1 points to further weaknesses.
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