Recap Y-0 breached early in the week put Y+1 in play. Y+1 tagged but cable failed to hold above it. Stuggled between Y+1 and Y-0 since. Closed the week above Y-0 and midpoint.
Outlook 3rd week trapped in the same range is very strong compression. Breakout mode in place. First move out of the range has to be strong enough to carry cable outside of the range by 25% or the mode can be a fake out.
Lawrence's Comment
Recap
Short bias from last week played out well until Y-2 was tagged and that the huge gap from beginning of March was rejected. ES zoomed back up from 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
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 Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Y-0 breached early in the week put Y+1 in play. Y+1 tagged but cable failed to hold above it. Stuggled between Y+1 and Y-0 since. Closed the week above Y-0 and midpoint.
Outlook
3rd week trapped in the same range is very strong compression. Breakout mode in place. First move out of the range has to be strong enough to carry cable outside of the range by 25% or the mode can be a fake out.
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