Recap The slight weekly bias towards the upside gave cable a boost to Y+3. Then fiscal cliff deal changed everything sending cable back down to Y-2. Closed the week near week low and below Y-1.
Outlook Cable hammered a short term high in place. As long as B-0 upto Y+2 stays as resistance cable should trade lower in coming weeks. Looking for swing trade opportunities to the downside.
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
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 ...
Lawrence's Comment
Recap
Support area did not hold and gave us a break down instead. Slided down to Y-2 the usual downside target. Closed the week below Y-2 and midpoint.
Outlook
3rd push down ...
GBPUSD Jan 07 to Jan 11 Outlook
Lawrence’s Comment
The slight weekly bias towards the upside gave cable a boost to Y+3. Then fiscal cliff deal changed everything sending cable back down to Y-2. Closed the week near week low and below Y-1.
Outlook
Cable hammered a short term high in place. As long as B-0 upto Y+2 stays as resistance cable should trade lower in coming weeks. Looking for swing trade opportunities to the downside.
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