Recap Y+1 acted as resistance on first test and sent cable down to support zone mentioned last week. Cable rallied straight up from support back up to Y+2 my upside target. Closed the week above Y+1 and midpoint.
Outlook Y+1 now support until proven otherwise. Retest of B+1 likely.
Lawrence's Comment
Recap
Aussie did not produce a buy setup early in the week. It just drifted higher to retest Y-0. The bear flag setup was good for a retest of Y-1 ...
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GBPUSD Oct 19 to Oct 23 Outlook
Lawrence’s Comment
Y+1 acted as resistance on first test and sent cable down to support zone mentioned last week. Cable rallied straight up from support back up to Y+2 my upside target. Closed the week above Y+1 and midpoint.
Outlook
Y+1 now support until proven otherwise. Retest of B+1 likely.
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