Recap Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
Lawrence's Comment
Recap
Opened strong challenging Y+1 but failed to go higher. That opened the door to other extreme at Y-1. Dropped down to almost there at 100% absolute range expansion and ...
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
Y-0 resistance sent Aussie down to Y-2 target. Channel formation in place sending Aussie down to Y-3 where the channel bottom is. Closed the week near Y-2 and below ...
GBPUSD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook
Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
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