Recap Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed the week above Y+1 and midpoint.
Outlook A ledge after strong selloff is bearish. A retest of B-1 and below is likely. Until B+1 is cleared we cannot be sure the daily down leg is over.
Lawrence's Comment
Recap
As expected Y+1 was tagged. Y+1 resistance sent ninja back down to Y-0. 50% range bounded all the actions. Closed the week above Y-0 and midpoint.
Outlook
No strong ...
Lawrence's Comment
Recap
Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 ...
Lawrence's Comment
Recap
Pullback continued. Y-1 breached yet rallied all the way back to print the high of the week first before stalling back down. Closed the week near Y-1 ...
GBPUSD Sep 01 to Sep 05 Outlook
Lawrence’s Comment
Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed the week above Y+1 and midpoint.
Outlook
A ledge after strong selloff is bearish. A retest of B-1 and below is likely. Until B+1 is cleared we cannot be sure the daily down leg is over.
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