Recap Y-1 support helped cable to bounce back up to Y-0. Failed to clear Y-0 Cable droppped back down to near Y-1. Closed the week below Y-0 and midpoint.
Outlook Consolidation / inside week points to continuation likely. As long as cable fails to clear Y-0 / B-0 zone from below potential parabolic drop in the making with target below B-3.
Lawrence's Comment
Recap
Open below Y-1 and flushed down to Y-2 target. Bounced off at once. Measured move back to Y-0 and failed to go higher. That staged the week low as ...
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GBPUSD Oct 03 to Oct 07 Outlook
Lawrence’s Comment
Y-1 support helped cable to bounce back up to Y-0. Failed to clear Y-0 Cable droppped back down to near Y-1. Closed the week below Y-0 and midpoint.
Outlook
Consolidation / inside week points to continuation likely. As long as cable fails to clear Y-0 / B-0 zone from below potential parabolic drop in the making with target below B-3.
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