Recap Everything changed over the weekend in Europe. Cable found support at Y-1 and forced a test of Y-0. That in turn provided fuel for cable to clear Y-0 gunning for Y+1. Closed the week near Y+1 and above midpoint.
Outlook Outside week reversal against the just established down trend indicates many people are caught on the wrong side of the market. Now Y-0 / B-0 strong support with this week consolidation at 50% week range likely.
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
Inside week with minimal actions. Closed the week near Y-0 and below midpoint.
Outlook
A retest of Y-1 is likely as long as ninja cannot clear B+1. Weekly level ...
GBPUSD Apr 20 to Apr 24 Outlook
Lawrence’s Comment
Everything changed over the weekend in Europe. Cable found support at Y-1 and forced a test of Y-0. That in turn provided fuel for cable to clear Y-0 gunning for Y+1. Closed the week near Y+1 and above midpoint.
Outlook
Outside week reversal against the just established down trend indicates many people are caught on the wrong side of the market. Now Y-0 / B-0 strong support with this week consolidation at 50% week range likely.
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