Recap A short squeeze from the bear flag as expected. Cable rushed to Y+3 before it stopped. Such move has no staying power and led to quick drop back down to Y+1. Closed the week near Y+1 and below midpoint.
Outlook Short squeeze done. Weak shorts transferred their positions to the strong ones. Y+2 / B-0 resistance for a drop back down to Y-1 and below.
Lawrence's Comment
Recap
Inside week. Held right above Y-1 and blasted off higher. Thought it may break above Y+1, the original upside target, yet failed to do so, giving us ...
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
As expected euro just cannot gather enough support to hold up. Dropped to Y-2 and jawboning from ECB only created a pop that lasted several hours. Closed the week ...
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 22 to Sep 26 Outlook
Lawrence’s Comment
A short squeeze from the bear flag as expected. Cable rushed to Y+3 before it stopped. Such move has no staying power and led to quick drop back down to Y+1. Closed the week near Y+1 and below midpoint.
Outlook
Short squeeze done. Weak shorts transferred their positions to the strong ones. Y+2 / B-0 resistance for a drop back down to Y-1 and below.
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