Recap Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
Lawrence's Comment
Recap
Got 1st upside target and almost 2nd one (Y+2) before news shock took it back down quickly. Closed the week near Y+1 and below midpoint.
Outlook
If a 2nd ...
GBPUSD Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook
Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
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