Recap Another easy play last week. Cable broke out to the upside. Traded above Y+3 as expected. Consolidation around Y+3 since. Closed the week near Y+3 and above midpoint.
Outlook The breakout run has used up its fuel on daily basis. There is still some room to go next week but it will be difficult to go much higher until we see pullback actions.
Consolidation within B+1 and B-0 is normal. A pullback to Y+1 slowly is also normal.
Lawrence's Comment
Recap
Y-0 support and then breakout to the upside. 100% absolute range expansion stopped the rally. Closed the week above Y+1 and midpoint.
Outlook
Y+1 / B-0 support for the ...
Lawrence's Comment
Recap
Y+1 acted as resistance and sold off to target zone mentioned last week. Closed the week above midpoint.
Outlook
Y+1 and B+1 is now key price level to break thru ...
Lawrence's Comment
Recap
Quick slide down to Y-2 and took off back to above Y+0, just like what I described last week. Pullback / consolidation since. Closed the week below ...
Lawrence's Comment
Recap
Congestion between Y-0 and Y+1 as expected.
Outlook
It is obvious that aussie is having difficulty in getting to Y+1. A turn down from B+1 implies a quick test ...
Lawrence's Comment
Recap
Bullish expectation worked out with gaps above all taken care of. Op ex pinned Dow below 18000 round number at Y-0 maximizing the damage to both calls and puts ...
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 Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Another easy play last week. Cable broke out to the upside. Traded above Y+3 as expected. Consolidation around Y+3 since. Closed the week near Y+3 and above midpoint.
Outlook
The breakout run has used up its fuel on daily basis. There is still some room to go next week but it will be difficult to go much higher until we see pullback actions.
Consolidation within B+1 and B-0 is normal. A pullback to Y+1 slowly is also normal.
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