Recap 1-2-3 rejection of Y-1 on 4 hour sent cable back up to above Y+1. Minimal pullback and another push to Y+2 before cable can stop. Closed the week above Y+1 and midpoint.
Outlook Potential daily swing low in place for cable. Y-0 / Y+1 whole zone is now support. As long as cable can hold onto its gain above Y-0, it has a good chance of going higher to B+2 and above.
Lawrence's Comment
Recap
Further weaknesses as expected. Consolidated right below Y-1. Closed the week below Y-1 and midpoint.
Outlook
Last week was holiday week, thus the bear flag formation is less reliable. ...
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 Feb 09 to Feb 13 Outlook
Lawrence’s Comment
1-2-3 rejection of Y-1 on 4 hour sent cable back up to above Y+1. Minimal pullback and another push to Y+2 before cable can stop. Closed the week above Y+1 and midpoint.
Outlook
Potential daily swing low in place for cable. Y-0 / Y+1 whole zone is now support. As long as cable can hold onto its gain above Y-0, it has a good chance of going higher to B+2 and above.
Share