Trading Edges That Last
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Lawrence's Comment Recap Spike high followed by strong reaction back down below Y+1. Consolidation play with 50% range as expected. Closed the week above Y-0 and near week low. Outlook Y-0 is still in ...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 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 MOREPrecog Vision – Forex 2016-9-29EURUSD Jun 14 to Jun 18 OutlookGBPUSD Feb 24 to Feb 28 OutlookDow 30 Apr 06 to Apr 10 OutlookAUDUSD Apr 03 to Apr 07 OutlookUSDJPY Jul 05 to Jul 09 OutlookPrecog Vision – Forex 2020-5-4Precog Vision – Forex 2011-8-13DP Odds Table (GBPUSD) 2016-09-073DP Odds Table (GBPUSD) 2022-12-22
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GBPUSD Feb 06 to Feb 10 Outlook
Lawrence’s Comment
Pullback happened, but the double top formation failed to break its neckline and turned into a classic ledge finding support at Y-0. Target Y+2 tagged by middle of the week. Closed the week above Y+1.
Outlook
Euro zone feeding news and rumors out that are not truthful but enough to create a squeeze on cable and euro dollar. That means some time in near future if the promises are not fulfilled, then we get a replay of 2011 August.
As long as B-0 acts as support cable can squeeze out one more leg up to B+2 area.
If B+1 acts as resistance, cable will drop quickly down to B-2.
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