Recap Downside target mentioned last week tagged and led to a weak bounce. Consolidation around Y-1 since and eventually Y-1 turned into resistance. Closed the week below Y-1 and near week low.
Outlook Potential parabolic run as long as Y-1 resistance holds with target Y-3.
Lawrence's Comment
Recap
As explained last week, do not confuse volatility as strength. Y-0 breached quickly led to Y-1 test in play. Y-0 turned into resistance since. Y-1 could not even stop ...
Lawrence's Comment
Recap
Pulled back to Y-0 early in the week and started climbing back up. Closed the week below Y+1.
Outlook
Clearly the weekly price levels are not honoured last week. ...
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GBPUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Downside target mentioned last week tagged and led to a weak bounce. Consolidation around Y-1 since and eventually Y-1 turned into resistance. Closed the week below Y-1 and near week low.
Outlook
Potential parabolic run as long as Y-1 resistance holds with target Y-3.
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