Recap As mentioned last week – cable was sitting at a tricky area. Instead of a bounce and drop, it simply dropped and cleared 3x previous week range before it stopped. Closed the week at Y-5.
Outlook B-0 and Y-1 are the 2 targets on the upside. I am not betting on that.
Hands off swing trade on the pair until I get a better setup on 4 hours.
Lawrence's Comment
Recap
As oppose to breaking below Y-0 and testing Y-1, Y-0 acted as support, leading to further upside range expansion. Tagged the target zone Y+3 right at the end ...
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 May 21 to May 25 Outlook
Lawrence’s Comment
As mentioned last week – cable was sitting at a tricky area. Instead of a bounce and drop, it simply dropped and cleared 3x previous week range before it stopped. Closed the week at Y-5.
Outlook
B-0 and Y-1 are the 2 targets on the upside. I am not betting on that.
Hands off swing trade on the pair until I get a better setup on 4 hours.
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