Recap Test of Y+1 and failed, sell back down to Y-0. Bounced off Y-0 and retest Y+1 again. The new low breaking the low made earlier in the week points to further weaknesses. The week ended with a bounce off the first week low of the month.
Outlook Closing a month within the initiation range implies uncertainty or balance. Thus revising B-0 is very likely early next week. Due to the balanced nature, it will take the first week of March to be completed before we can tell the direction more clearly.
Lawrence's Comment
Recap
Aussie tried to hold above Y+1 but failed. That opened the door to Y-1 retest. Got the retest done and bounced off since. Closed the week above midpoint and ...
Lawrence's Comment
Recap
Mentioned that it is a wait and see moment. And in fact we have got this outside week that spent most of its time within a tight ...
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GBPUSD Feb 28 to Mar 04 Outlook
Lawrence’s Comment
Test of Y+1 and failed, sell back down to Y-0. Bounced off Y-0 and retest Y+1 again. The new low breaking the low made earlier in the week points to further weaknesses. The week ended with a bounce off the first week low of the month.
Outlook
Closing a month within the initiation range implies uncertainty or balance. Thus revising B-0 is very likely early next week.
Due to the balanced nature, it will take the first week of March to be completed before we can tell the direction more clearly.
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