Trading Edges That Last
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Lawrence's Comment Recap Slingshot reversal as expected. Hard selloff on Friday gave us the B-2 and below target. Closed the week near Y-3 and week low. Outlook Y-1 obvious resistance above but ...READ MORELawrence's Comment Recap Spike and ledge setup trigger by FBO against Y+1 first, giving way to Y-1. Closed the week near Y-1 and week low. Outlook If last week is the 2nd ...READ MORELawrence's Comment Recap Moved higher as expected and then it turned into full power rally. When cable cleared Y+3, a short squeeze / stop run was induced. Closed the week above Y+3 ...READ MOREFor 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 scheduleREAD MOREWeekly Cycle Projection (GBPUSD) 2013-04-22EURUSD Sep 21 to Sep 25 OutlookUSDJPY Nov 30 to Dec 04 OutlookDow 30 Apr 27 to May 01 OutlookNasdaq 100 Sep 12 to Sep 16 Outlook3DP Odds Table (GBPUSD) 2020-06-08USDCAD Dec 28 to Jan 01 OutlookGBPUSD Aug 08 to Aug 12 OutlookGBPUSD Jun 10 to Jun 14 OutlookPrecog Vision – Forex 2014-1-30
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GBPUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
The consolidation to close midpoint the week prior to last week pointed to a retest of Y+1 and that happened right at the beginning of last week. Formed a complex top there leading to a selloff to tag Y-2 and closed the week at midpoint.
Outlook
The strong bounce from Y-2 points to rejection of Y-1 down to Y-2 area. As long as this zone acts as support, downside will be limited.
To go higher, Cable must produce a buy formation in B-1 to B-0 so that it can retest B+1 again.
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