Recap Opened holding above the resistance mentioned last week. Cable has no choice but squeezed back up to Y+1. Rejected by Y+1, sending it back down to Y-0 again. Closed the week near Y-0 and below midpoint.
Outlook Y+1 rejected decisively creating a strong resistance from Y-0 to B-0. Continuation selloff points to B-3 in play as long as B-0 can cap any bounce.
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Lawrence's Comment
Recap
Broken below our support zone, but successfully staged a double bottom to blast the price up right underneath. That puts Y-0 into play. Reached Y-0 in midweek and ...
Lawrence's Comment
Recap
Pullback from Y+1 to Y-0 as expected. A sudden turn from above Y-1 breaking Y+1 points to Y+3 in play. Once Y+3 was tagged, the rest of the ...
GBPUSD May 26 to May 30 Outlook
Lawrence’s Comment
Opened holding above the resistance mentioned last week. Cable has no choice but squeezed back up to Y+1. Rejected by Y+1, sending it back down to Y-0 again. Closed the week near Y-0 and below midpoint.
Outlook
Y+1 rejected decisively creating a strong resistance from Y-0 to B-0. Continuation selloff points to B-3 in play as long as B-0 can cap any bounce.
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