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Lawrence's Comment
Recap
Pullback early in the week proven Y-0 as strong support. However, Euro has difficulties in pushing through Y+1. Closed the week near week high and above Y+1.
Outlook
The ...
GBPUSD Aug 20 to Aug 24 Outlook
Lawrence’s Comment
Was looking for a breakout and it turned into another tight range week consolidating around Y+1. Closed the week near Y+1 and at midpoint.
Outlook
Potential breakout failure in place as cable failed to close above Y+1. 4 Hour chart turning into a rising wedge / bear flag structure.
Another attempt to breakout upside like a test of B+1 that failed to go higher points to a flush back down to B-3.
That is just a bigger range consolidation within the 2 extremes defined back in end of July to beginning of August. No clear direction yet.
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