Recap As stated last week, stairstep rally in place. Upside target of Y+2 tagged by end of the week.
Outlook Stairstep rally is very difficult to snap out of, thus it is not a good idea to fade the strength at this point in time.
Several pocket zones are left behind that once some form of top is place (e.g. double top, 1-2-3 sell off important resistance zone) then cable will slide back down to these pockets quickly. Y-0 is the closet one at the moment.
Lawrence's Comment
Recap
Retest of Y+1 / 1.66 round number level confirmed its resistance status. That opened the door to Y-0 and below. Closed the week below Y-0 and near week low.
Outlook
Y-0 ...
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Lawrence's Comment
Recap
News shock dropped ES down to Y-3 to start the week. Gap fill fight started at once. Wild 2 ways swings eventually allow ES to move above Y-1. Closed ...
Lawrence's Comment
Recap
Capped by previous week close / Y-0. Eventually did the test of Y-1 and took off before it was even tagged. Cleared previous week close and gave us equal ...
GBPUSD Oct 31 to Nov 04 Outlook
Lawrence’s Comment
As stated last week, stairstep rally in place. Upside target of Y+2 tagged by end of the week.
Outlook
Stairstep rally is very difficult to snap out of, thus it is not a good idea to fade the strength at this point in time.
Several pocket zones are left behind that once some form of top is place (e.g. double top, 1-2-3 sell off important resistance zone) then cable will slide back down to these pockets quickly. Y-0 is the closet one at the moment.
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