Trading Edges That Last
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Lawrence's Comment Recap Uptrend intact in beginning of the week gave us the Y+2 target. Then violent takedown breached Y-0 key up channel support. Waterfall effect brought cable straight down to Y-3 ...READ MOREFor 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 scheduleREAD MORENasdaq 100 Feb 22 to Feb 26 OutlookPrecog Vision – Forex 2022-12-153DP Odds Table (GBPUSD) 2013-03-22Dow 30 Jul 25 to Jul 29 OutlookAUDUSD Jun 13 to Jun 17 OutlookEURUSD Jan 11 to Jan 15 OutlookGBPUSD Aug 31 to Sep 04 OutlookIntraday Cycle Projection (GBPUSD) 2013-08-01Precog Vision – Forex 2020-11-24Intraday Cycle Projection (GBPUSD) 2011-10-20
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GBPUSD Aug 15 to Aug 19 Outlook
Lawrence’s Comment
The consolidation to close midpoint the week prior to last week pointed to a retest of Y+1 and that happened right at the beginning of last week. Formed a complex top there leading to a selloff to tag Y-2 and closed the week at midpoint.
Outlook
The strong bounce from Y-2 points to rejection of Y-1 down to Y-2 area. As long as this zone acts as support, downside will be limited.
To go higher, Cable must produce a buy formation in B-1 to B-0 so that it can retest B+1 again.
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