Trading Edges That Last
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Lawrence's Comment Recap My favorite pair behaved nicely last week. Sold off as expected and dropped down to almost Y-3 target before it staged the bounce. Closed the week above midpoint and ...READ MORELawrence's Comment Recap Rejected twice below Y-0 at 1.62. 2nd time sent cable down to Y-2. Staying weak as expected. Sold off to the nearest target as expected. Closed the week ...READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MORELawrence's Comment Recap Consolidation around previous week close. Y-0 acted as support. Closed the week above Y-0 and midpoint. Outlook Consolidation instead of pullback from blowoff action is bullish. This points to ...READ MOREGBPUSD Aug 05 to Aug 09 Outlook3DP Odds Table (GBPUSD) 2012-09-27GBPUSD Dec 31 to Jan 04 OutlookPrecog Vision – Forex 2018-10-23AUDUSD Oct 17 to Oct 21 OutlookPrecog Vision – Forex 2017-10-30Forex Intraday Bias: Inside UpHot n Cold (GBPUSD) 2014-8-22AUDUSD Nov 23 to Nov 27 OutlookUSDJPY Sep 29 to Oct 03 Outlook
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GBPUSD Oct 27 to Oct 31 Outlook
Lawrence’s Comment
As mentioned last week cable was not strong enough to produce a bullish close hence it has to deal with a pullback first. We got the pullback after the rising wedge was broken to the down side. Y-0 tagged and acted as support. Closed the week above Y-0 and near midpoint.
Outlook
Another week attempting to pusher higher yet failed to produce a strong close. This is a clear sign of weakness. Until Y+1 / B-0 turning into support, cable will likely be forced into dumping below B-1.
Should the weekly down trend resumes, B-3 is the next down side target.
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