Recap Cable consolidated around previous week close in extreme tight range. Not even 50% previous week range was made. Closed the week near Y-1 and midpoint.
Outlook Consolidation in tight range after wide range week often points to continuation. Y-1 / B-0 support can send cable higher to B+2 / Y-0 but that will not change the bearish formation on daily. Long term support at 1.5 will be the more important decision zone.
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
Lawrence's Comment
Recap
Did not get the upside breakout I am looking for. Aussie failed to push higher and slided down to below Y-1. Pullback failed to clear Y-0 and selloff from ...
GBPUSD Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Cable consolidated around previous week close in extreme tight range. Not even 50% previous week range was made. Closed the week near Y-1 and midpoint.
Outlook
Consolidation in tight range after wide range week often points to continuation. Y-1 / B-0 support can send cable higher to B+2 / Y-0 but that will not change the bearish formation on daily. Long term support at 1.5 will be the more important decision zone.
Share