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 Y-1.
Outlook Downside target rejected. Closing above Y-1 gives players an excuse to push cable higher to at least Y-0.
No strong bias this week to lean on from chart pattern. No strong stats supporting a move to either Y-0 and Y-2.
Lawrence's Comment
Recap
The more likely case of sell off materialized. The sell off, however, stopped at 100% absolute range expansion by end of week.
Outlook
The selloff stopped above Y-1 is likely ...
Lawrence's Comment
Recap
Pressed at B-1 in the beginning of the week killed the rally potential. Y-3 tagged and no support is found. Closed the week near week low.
Outlook
Similar setup ...
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 page
Trading 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 Aug 05 to Aug 09 Outlook
Lawrence’s Comment
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 Y-1.
Outlook
Downside target rejected. Closing above Y-1 gives players an excuse to push cable higher to at least Y-0.
No strong bias this week to lean on from chart pattern. No strong stats supporting a move to either Y-0 and Y-2.
Share