Trading Edges That Last
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Lawrence's Comment Recap 8 to 10 points swings several times in RTH and in AH as expected. Taking out Y+1 but not quite Y+2 means a retest of Y+0 in ...READ MORELawrence's Comment Recap A flush to Y-2 resulted in a quick bounce back above Y-1. That puts Y+1 in play. As mentioned last week, we are looking for a run ...READ MORELawrence's Comment Recap As expected more downside to Y-2 before a bounce. Failed to clear Y-1 leading to extended slide down to Y-3 normal expansion target. Closed the week below Y-2 and ...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 MORE3DP Odds Table (GBPUSD) 2011-10-19S&P 500 Feb 21 to Feb 25 OutlookAUDUSD Apr 30 to May 04 OutlookGBPUSD Jan 12 to Jan 16 OutlookPrecog Vision – Forex 2022-4-19Hot n Cold (GBPUSD) 2020-10-9Precog Vision – Forex 2023-4-123DP Odds Table (GBPUSD) 2016-04-27GBPUSD Mar 21 to Mar 25 Outlook3DP Odds Table (GBPUSD) 2022-02-15
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GBPUSD Apr 29 to May 03 Outlook
Lawrence’s Comment
Tried twice to break Y-1 and failed. Once Y-0 was cleared, a reversal is in place for a run back upto at least Y+1. Y+1 and Y+2 was taken out with full force in 1 go. Closed the week above Y+2 and near week high.
Outlook
Last week was a classic failure of the head and shoulder pattern, which then turn into a bull flag and mess with the bears.
At this point, however, once the pressure is off, we need to know if it is a true upside breakout. A test of Y+1 is necessary here to confirm the strength of the breakout. If Y+1 holds, we can get B+2 easily next week.
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