Recap Election week started with Y-1 holding up fine, which opened the door to Y-0 and the election results propelled cable back up to Y+1. Closed the week above Y-0 and midpoint.
Outlook Outside week strong close within previous week range means Y+1 is not invalidated yet. Until Cable can close above Y+1 on daily basis, we cannot rule out a drop back down to B-0 first.
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
Multiple news shock since the beginning of the week has sent euro higher all week. The normal range expansion target of Y+3 was tagged by the close of ...
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 May 11 to May 15 Outlook
Lawrence’s Comment
Election week started with Y-1 holding up fine, which opened the door to Y-0 and the election results propelled cable back up to Y+1. Closed the week above Y-0 and midpoint.
Outlook
Outside week strong close within previous week range means Y+1 is not invalidated yet. Until Cable can close above Y+1 on daily basis, we cannot rule out a drop back down to B-0 first.
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