Recap Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more likely.
Lawrence's Comment
Recap
Y-0 support and then breakout to upside target mentioned last week. Stalled when getting near Y+3. Closed the week above Y+2 and near week high.
Outlook
weekly consolidation / ...
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Lawrence's Comment
Recap
Similar to Dow, ES was having its consolidation week. Traded equal distance from its open. Closed the week above Y+1 and near week high.
Outlook
B+1 resistance points to ...
Lawrence's Comment
Recap
Last week of the year consolidation actions in tight range. Closed the week near Y-1 and week low.
Outlook
Can develop into 4 hour down channel with B-2 down ...
GBPUSD Jul 27 to Jul 31 Outlook
Lawrence’s Comment
Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook
Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more likely.
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