Recap Opened the week below Y-1 and struggled around Y-1 since. By end of the week, cable can no longer hold the price level and flushed down to almost Y-2. Closed the week near week low and below Y-1.
Outlook Potential flush low in the making. If cable can hold B-2 and snap back up to above Y-1 on 4 hour close basis, a quick run up will take cable back up to B+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
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
Consolidated around Y+1. It is expected since NQ just finished another squeeze up. Closed the week below Y+1 and near midpoint.
Outlook
As long as B-1 downto Y-0 acting ...
GBPUSD Mar 04 to Mar 08 Outlook
Lawrence’s Comment
Opened the week below Y-1 and struggled around Y-1 since. By end of the week, cable can no longer hold the price level and flushed down to almost Y-2. Closed the week near week low and below Y-1.
Outlook
Potential flush low in the making. If cable can hold B-2 and snap back up to above Y-1 on 4 hour close basis, a quick run up will take cable back up to B+3.
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