Recap Rejected upper end of the 3 week range gave us a run back down to the bottom of the range. Not a difficult play at all. Y-2 was tagged and led to a strong bounce. However, Y-0 stopped the run and forced a drop back down to below Y-1. Closed the week near Y-1 and below midpoint.
Outlook Still trapped inside the same range. Compression on daily has reached critical level. A breakout of this range should give us the normal breakout target.
Lawrence's Comment
Recap
More upside as expected with first 40 points pullback in place too. The distribution signs mentioned last week played out well as Google earning disappointment is obviously something expected. ...
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
Broken Y-0 right at the beginning of the week, tagged target Y-1 quickly. Bounced back to Y-0 where it acted as resistance, pointing to 50% downside expansion ...
GBPUSD Mar 17 to Mar 21 Outlook
Lawrence’s Comment
Rejected upper end of the 3 week range gave us a run back down to the bottom of the range. Not a difficult play at all. Y-2 was tagged and led to a strong bounce. However, Y-0 stopped the run and forced a drop back down to below Y-1. Closed the week near Y-1 and below midpoint.
Outlook
Still trapped inside the same range. Compression on daily has reached critical level. A breakout of this range should give us the normal breakout target.
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