Recap Cable held previous week close and started a squeeze back up to Y+1. Y+1 resistance dropped cable back down. Closed the week below Y-0 and midpoint.
Outlook Ledge like formation on daily points to continuation is more likely than not. The trend was down so expect more downside soon.
Lawrence's Comment
Recap
Initially bounced off Y-1 but failed to go above Y-0. That caught a lot of people by surprise. Surprise breakout points to normal expansion target of Y-3 ...
Lawrence's Comment
Recap
Sold off in the beginning of the week. Bounced off fib level (see USDCAD comment) and rallied all the way up to 200% absolute range expansion target. Ended ...
Lawrence's Comment
Recap
Consolidation play earlier part of the week with Y-1 support. Later in the week trouble in Yemen led to break down play which doubled the range for the week. ...
GBPUSD Feb 02 to Feb 06 Outlook
Lawrence’s Comment
Cable held previous week close and started a squeeze back up to Y+1. Y+1 resistance dropped cable back down. Closed the week below Y-0 and midpoint.
Outlook
Ledge like formation on daily points to continuation is more likely than not. The trend was down so expect more downside soon.
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