Recap The weaknesses observed last week played out well and cable dropped below target Y-1. After 100% absolute range expansion is completed, cable bounced off and closed the week at midpoint.
Outlook Price action is bearish. B-0 is now the critical point.
If cable managed to stage a buy setup off this level, it can pop back up to B+1 and Y+1 easily.
If a sell setup is formed off B-0, we get much lower prices.
Lawrence's Comment
Recap
A flush to Y-2 resulted in a quick bounce back above Y-1. That puts Y+1 in play. As mentioned last week, we are looking for a run ...
Lawrence's Comment
Recap
Took off right from the start of the week and consolidated above Y+1 pointing to a push towards Y+3. At 100% absolute range expansion, heavy selling kicked ...
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GBPUSD Jan 02 to Jan 06 Outlook
Lawrence’s Comment
The weaknesses observed last week played out well and cable dropped below target Y-1. After 100% absolute range expansion is completed, cable bounced off and closed the week at midpoint.
Outlook
Price action is bearish. B-0 is now the critical point.
If cable managed to stage a buy setup off this level, it can pop back up to B+1 and Y+1 easily.
If a sell setup is formed off B-0, we get much lower prices.
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