Hit sell target zone (red zone) then started a choppy run towards the resistance area (yellow zone). Boring but easy trading – always a good thing.
Next week outlook
The continuation target (green zone) is too close to the resistance area (yellow zone). That means, any long trade taken may easily give back all its gain within that range if the pair choose to do a w. thrust first and gun for the downside target of previous month low (red zone).
Lawrence's Comment
Recap
Upside push failed to clear Y+1 resistance resulted in retest of Y-0. Break of Y-0 in just 1 try, gapped to Y-1 and flushed down to Y-2 target mentioned ...
Lawrence's Comment
Recap
Quick fall early in the week due to news shock. Then struggled to hold and failed to go above Y-0. Closed the week above Y-0 but below ...
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 Week of Dec 13th to Dec 17th Outlook
Recap of last week
Hit sell target zone (red zone) then started a choppy run towards the resistance area (yellow zone). Boring but easy trading – always a good thing.
Next week outlook
The continuation target (green zone) is too close to the resistance area (yellow zone). That means, any long trade taken may easily give back all its gain within that range if the pair choose to do a w. thrust first and gun for the downside target of previous month low (red zone).
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