Recap No test of Y-0 with straight up breakout. That gave us Y+2 target. Y+2 tagged easily with 100% absolute range expansion stopped the run. Closed the week above Y+2 and near week high.
Outlook Stop run move points to consolidation and a test of B-0 is in order. Resistance at B+1 / Y+3.
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, Aussie dropped below B-1. Since then it has consolidated around 50% previous week range. Closed the week below Y-1 and midpoint.
Outlook
Until Aussie can stage a strong reversal ...
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 Jun 22 to Jun 26 Outlook
Lawrence’s Comment
No test of Y-0 with straight up breakout. That gave us Y+2 target. Y+2 tagged easily with 100% absolute range expansion stopped the run. Closed the week above Y+2 and near week high.
Outlook
Stop run move points to consolidation and a test of B-0 is in order. Resistance at B+1 / Y+3.
Share