Recap Rallied from the support zone mentioned last week and tagged Y+2 and above as expected. Y+3 crime scene tagged and stopped the run up. Closed the week near Y+2 and above midpoint.
Outlook Wide range reversal with strong close likely produce a follow thru after a mild pullback. This puts B-0 / Y+1 in play as support for a retest of B+1 and the higher crime scene at B+2 where the original breakdown happened. How cable develops within B+1 and B+2 will decide if the monthly down trend can continue.
Lawrence's Comment
Recap
Rally continued until Y+2 is tagged. News shock from Euro zone induced a sharp selloff back down to above 1.00, slightly higher than Y-0. Closed the week ...
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
Cleared Y-0, so gave us a go for a run above Y+1. Then before tagging Y+2, there came the news shock from G20. That trigger the 2nd setup mentioned ...
GBPUSD Oct 12 to Oct 16 Outlook
Lawrence’s Comment
Rallied from the support zone mentioned last week and tagged Y+2 and above as expected. Y+3 crime scene tagged and stopped the run up. Closed the week near Y+2 and above midpoint.
Outlook
Wide range reversal with strong close likely produce a follow thru after a mild pullback. This puts B-0 / Y+1 in play as support for a retest of B+1 and the higher crime scene at B+2 where the original breakdown happened. How cable develops within B+1 and B+2 will decide if the monthly down trend can continue.
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