Recap The resistance zone mentioned last week worked out as expected and a retest of Y-1 happened. However there was no breach of that important low and a bottom was developed with a 1-2-3 buy created from the G7 intervention. Closed the week at the high.
Outlook As long as B-0 acts as support, looking for B+2 to be tagged.
Lawrence's Comment
Recap
Cable snapped out of its tight down channel to the upside which led to a charge towards the start of the channel at Y+1. Y+1 tagged and cable stalled ...
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Lawrence's Comment
Recap
Slided further down near Y-2 but bounced off before tagging the price level. Rejected by Y-0 as expected. Closed the week near Y-1 and below midpoint.
Outlook
Turning the top ...
GBPUSD Mar 21 to Mar 25 Outlook
Lawrence’s Comment
The resistance zone mentioned last week worked out as expected and a retest of Y-1 happened. However there was no breach of that important low and a bottom was developed with a 1-2-3 buy created from the G7 intervention. Closed the week at the high.
Outlook
As long as B-0 acts as support, looking for B+2 to be tagged.
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