Recap The more interesting scenario happened. Cable held Y-0, breakout of Y+1 and gave us 1.60 and Y+3 in 1 go. Essentially no heat taken. Cannot ask for anything more than that. Closed the week near week high.
Outlook 1.60 area is long term resistance zone. Tagging it is one thing, breaking above it is another matter.
Consolidation around B-0 to B+1 is likely this week.
Lawrence's Comment
Recap
Intervention effect mostly erased by Thursday. Yet, after 100% absolute range established, NQ found the excuse to go higher and closed the week above midpoint and previous ...
Lawrence's Comment
Recap
Consolidation actions within Y+1 and Y-0 as expected until FOMC announcement. Breakout to the upside and filled the open gap above. Closed the week above Y+1 and near week ...
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GBPUSD Sep 10 to Sep 14 Outlook
Lawrence’s Comment
The more interesting scenario happened. Cable held Y-0, breakout of Y+1 and gave us 1.60 and Y+3 in 1 go. Essentially no heat taken. Cannot ask for anything more than that. Closed the week near week high.
Outlook
1.60 area is long term resistance zone. Tagging it is one thing, breaking above it is another matter.
Consolidation around B-0 to B+1 is likely this week.
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