Recap The easy play last week. Y-0 acted as resistance and gave us a selloff down to Y-3 my target. It cannot get any easier than this. Closed the week below Y-1 and midpoint.
Outlook Y-1 / B-0 is resistance and likely cap any attempt to go higher.
A retest of B-1 is very likely. Breaking below B-1 for a 3rd leg down is also likely.
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
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 02 to Jun 06 Outlook
Lawrence’s Comment
The easy play last week. Y-0 acted as resistance and gave us a selloff down to Y-3 my target. It cannot get any easier than this. Closed the week below Y-1 and midpoint.
Outlook
Y-1 / B-0 is resistance and likely cap any attempt to go higher.
A retest of B-1 is very likely. Breaking below B-1 for a 3rd leg down is also likely.
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