Recap Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
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
Unlike trading index future contracts or commodity future contracts having a steep margin requirement and higher minimum account size across the board, forex trading (and CFD trading) can be done ...
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
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
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
GBPUSD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook
Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
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