Recap Test of Y+1 failed, giving us Y-1 downside target. Reacted to Y-0 but failed to go higher. Y-1 downside target tagged by the end of the week. Closed the week near Y-1 and below midpoint.
Outlook Outside reversal week with close below Y-1 is a very strong reversal pattern. More downside expected. B-2 / Y-3 in play as long as B-0 continue to act as resistance.
Lawrence's Comment
Recap
Rally as expected. Ended mid way from our 2 upside targets. Tight range and closed the week above midpoint.
Outlook
Potential 3 pushes up. A break below B-1 will confirm ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
1450 acted as resistance in the beginning of the week and forced a drop back down. Then the sudden reversal back up to Monday high area caught ...
GBPUSD Dec 16 to Dec 20 Outlook
Lawrence’s Comment
Test of Y+1 failed, giving us Y-1 downside target. Reacted to Y-0 but failed to go higher. Y-1 downside target tagged by the end of the week. Closed the week near Y-1 and below midpoint.
Outlook
Outside reversal week with close below Y-1 is a very strong reversal pattern. More downside expected. B-2 / Y-3 in play as long as B-0 continue to act as resistance.
Share