Recap Cable bear flag pushed right into the resistance zone mentioned last week. Bear flag broken to the down side and gave us a clean slide to below Y-2 normal expansion target. Closed the week near Y-2 and below midpoint.
Outlook Daily down trend continues. Y-1 / B-0 strong resistance. A test of B-1 first and held will give us a bounce back up there. Without that, more downside is expected.
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
Gapped lower right off opening of the week and flushed down to test the gap below after failure to break above previous week close. Shorts are squeezed after the ...
Lawrence's Comment
Recap
Got the bearish action I was looking for right from the start of the week. Took 2 tries though before cable breaks its support. Dropped to Y-3 by end ...
GBPUSD Nov 17 to Nov 21 Outlook
Lawrence’s Comment
Cable bear flag pushed right into the resistance zone mentioned last week. Bear flag broken to the down side and gave us a clean slide to below Y-2 normal expansion target. Closed the week near Y-2 and below midpoint.
Outlook
Daily down trend continues. Y-1 / B-0 strong resistance. A test of B-1 first and held will give us a bounce back up there. Without that, more downside is expected.
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