Recap As expected, cable price trapped between Y-1 to Y+1. Attempt to break lower failed then higher high and higher low swinged cable back up to almost Y+1. Closed the week near week high and above Y-0.
Outlook Potential important swing top in the making. A test of Y+1 or FBO against it will give us a strong breakdown setup with closest target below B-2.
As every country is printing its way out, UK will take advantage of this strength in cable to print more, implying next round of selloff is just around the corner.
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
We got our downside move and we got way more than we asked for. Not just y-2 was tagged, Yen slided all the way to below Y-3 and ...
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 Sep 30 to Oct 04 Outlook
Lawrence’s Comment
As expected, cable price trapped between Y-1 to Y+1. Attempt to break lower failed then higher high and higher low swinged cable back up to almost Y+1. Closed the week near week high and above Y-0.
Outlook
Potential important swing top in the making. A test of Y+1 or FBO against it will give us a strong breakdown setup with closest target below B-2.
As every country is printing its way out, UK will take advantage of this strength in cable to print more, implying next round of selloff is just around the corner.
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