Lawrence's Comment
Recap
FBO against Y+1 in beginning of the week gave us the downside target of Y-1. Took out Y-1 and tagged Y-2 in 1 go. Bounced back above ...
Lawrence's Comment
Recap
Previous week close resistance sent the pair down to Y-0. Y-0 did not act as support at all gave us test of Y-1. Y-1 also failed to act as ...
Lawrence's Comment
Recap
Further weaknesses as expected. Consolidated right below Y-1. Closed the week below Y-1 and midpoint.
Outlook
Last week was holiday week, thus the bear flag formation is less reliable. ...
Lawrence's Comment
Recap
Consolidation at 50% week range. Initial FBO against Y+1 led to a pullback to Y-0. Y-0 held and gave us a retest of Y+1. Closed the week above Y-0 ...
Lawrence's Comment
Recap
Continuation sell down to Y-2 yet failed to produce a bounce. Breaking below Y-2 gave us Y-3. Closed the weekbelow Y-2 and midpoint.
Outlook
Stop hunting move once Y-2 ...
GBPUSD Sep 26 to Sep 30 Outlook
Lawrence’s Comment
No bounce from Y-1. Re-entered the down channel and collapsed to Y-5 before the pair can find any support at all.
Outlook
Down channel re-enforced itself on the pair again and this time resulted in overshooting to the downside.
Divergence low or exhaustion low usually comes off this kind of setup. Thus short side should watch out for sudden high power short squeeze.
If there is a bounce coming, it is likely coming off a retest of B-1 and the initial target is Y-2.
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