Lawrence's Comment
Recap
The less likely scenario presented itself - w. upthrust against Y+1 leading to a quick selloff to Y-1. Flushed thru Y-1 but not quite Y-2 and closed ...
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 ninja consolidated to the down side. Dropped down to Y-0. Closed the week near Y-0 and below midpoint.
Outlook
Very tricky setup with 2 completely opposite outcomes.
First, if the ...
Lawrence's Comment
Recap
Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed ...
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 Sep 26 to Sep 30 Outlook
Lawrence’s Comment
No bounce from Y-1. Re-entered the down channel and collapsed to Y-5 before the pair can find any support at all.
Outlook
Down channel re-enforced itself on the pair again and this time resulted in overshooting to the downside.
Divergence low or exhaustion low usually comes off this kind of setup. Thus short side should watch out for sudden high power short squeeze.
If there is a bounce coming, it is likely coming off a retest of B-1 and the initial target is Y-2.
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