Recap Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
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
Lawrence's Comment
Recap
As expected, even after breaking Y-1 euro refused to go lower quickly. slow choppy action down to near Y-2. Closed the week near Y-2 and week low.
Outlook
1.33 target still ...
GBPUSD Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook
Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
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