Pullback as expected. Reacted wildly between 1.61 and 1.60. It is a fight to continue the expansion to the upside – 1.60 is the previous quarter high.
Next week outlook
If the pair is going to change its trend on quarterly, then 1.60 zone will break and turns into resistance. The implication is that GBPUSD will drop to the red zone quickly before anything else can happen.
Before the break happens, the more likely scenario is a continuation of the upside expansion.
So going into breakout mode – must move out of the 1.59 to 1.63 zone for a good run.
Lawrence's Comment
Recap
I know what the sell up is, so does PPT. Intervention activities on full gear last week. First, breaking the resistance zone mentioned last week to induce a 1-2-3 ...
Lawrence's Comment
Recap
Whole week was consolidation within Y-1 to Y-0. Closed the week right below Y-0.
Outlook
As stated previously, further weaknesses is expected. The past week formed a bear flag (or ...
Lawrence's Comment
Recap
Ninja was so strong, it pushed to 122 first in the beginning of the week setting up Y+1 as the consolidation midpoint. Closed the week near Y+1 and midpoint.
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GBPUSD Week of Nov 15th to 19th Outlook
Recap of last week
Pullback as expected. Reacted wildly between 1.61 and 1.60. It is a fight to continue the expansion to the upside – 1.60 is the previous quarter high.
Next week outlook
If the pair is going to change its trend on quarterly, then 1.60 zone will break and turns into resistance. The implication is that GBPUSD will drop to the red zone quickly before anything else can happen.
Before the break happens, the more likely scenario is a continuation of the upside expansion.
So going into breakout mode – must move out of the 1.59 to 1.63 zone for a good run.
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