Recap The consolidation scenario unfolded. Whole week trapped within Y-1 to Y-0.
Outlook As long as B+1 to Y-0 acts as resistance, B-1 will be retested. The week long consolidation means the continuation move to the downside will be strong enough to take out B-2 easily.
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 the pair tagged Y+2 first. Then wild swing in gold price dropped the pair lower. Closed the week between Y+2 to Y+3.
Outlook
Continuation rally to B+2 is ...
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 May 23 to May 27 Outlook
Lawrence’s Comment
The consolidation scenario unfolded. Whole week trapped within Y-1 to Y-0.
Outlook
As long as B+1 to Y-0 acts as resistance, B-1 will be retested. The week long consolidation means the continuation move to the downside will be strong enough to take out B-2 easily.
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