Recap As expected a rounding top that FBO against Y+1 and gave us Y-1 easily. The bonus is the move down to Y-2 to end the week. Closed the week near week low and below Y-1.
Outlook Outside week with close below Y-1 is a strong bearish setup for more downside. As long as Y-1 acting as resistance B-2 in play.
The implication of the potential move is an interesting one though as what can drive Cable dropping another 200 pips this quickly?
Lawrence's Comment
Recap
Y+1 acted as resistance and sold off to target zone mentioned last week. Closed the week above midpoint.
Outlook
Y+1 and B+1 is now key price level to break thru ...
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
Very similar to Dow, made a waterfall pattern and collapsed down to Y-1. Closed the week below midpoint BUT almost made it to close above Y-1.
Outlook
The attempt to ...
GBPUSD Jun 24 to Jun 28 Outlook
Lawrence’s Comment
As expected a rounding top that FBO against Y+1 and gave us Y-1 easily. The bonus is the move down to Y-2 to end the week. Closed the week near week low and below Y-1.
Outlook
Outside week with close below Y-1 is a strong bearish setup for more downside. As long as Y-1 acting as resistance B-2 in play.
The implication of the potential move is an interesting one though as what can drive Cable dropping another 200 pips this quickly?
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