Trading Edges That Last
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Lawrence's Comment Recap Consolidation week at reduced range trapped inside Y-1 to Y-0. Closed the week below Y-0 and above midpoint. Outlook BOJ indeed doing what they claimed and no one dares ...READ MORE3DP Odds Table (GBPUSD) 2023-01-10Precog Vision – Forex 2014-3-13Precog Vision – Forex 2020-8-20Precog Vision – Forex 2017-8-22Precog Vision – Forex 2018-9-18USDJPY Feb 23 to Feb 27 Outlook3DP Odds Table (GBPUSD) 2014-07-11EURUSD Jul 17 to Jul 21 Outlook3DP Odds Table (GBPUSD) 2020-10-083DP Odds Table (GBPUSD) 2020-11-13
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GBPUSD Jun 08 to Jun 12 Outlook
Lawrence’s Comment
Down channel break led to a run to my target mentioned last week. It also lined up nicely from early week low at 100% absolute range expansion. Cable stalled from there and collapsed back down. Closed the week near Y-1 and below midpoint.
Outlook
Cable pullback to daily level resistance and continue to sell off last week confirms the strength of the daily down trend. This can lead to a surprise flush more powerful than many people anticipated.
To end the daily down trend, B-1 must be defended and a weekly close above B+1 is necessary.
Otherwise more downside is likely.
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