Recap Retest of Y+1 as expected. Failed to clear it, gave us consolidation above Y-0. Closed the week above Y-0 and near midpoint.
Outlook Inside week and extreme tight range. Breakout play above B+1 points to at least B+3. I understand that upside breakout is counter-intuitive with the current situation in Ukraine but it can still happen.
A break of Y-0 decisively, can lead to all out flush back down to Y-1 and Y-2.
Lawrence's Comment
Recap
Gap down to Y-1 giving us the perfect setup to produce the strong daily bottom mentioned last week. Clean reversal with breakout of Y+1 gave us Y+3 easily. Closed ...
GBPUSD Apr 28 to May 02 Outlook
Lawrence’s Comment
Retest of Y+1 as expected. Failed to clear it, gave us consolidation above Y-0. Closed the week above Y-0 and near midpoint.
Outlook
Inside week and extreme tight range. Breakout play above B+1 points to at least B+3. I understand that upside breakout is counter-intuitive with the current situation in Ukraine but it can still happen.
A break of Y-0 decisively, can lead to all out flush back down to Y-1 and Y-2.
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