Recap Still the best pair to swing trade. Failed to clear Y-0 midweek gave us a low risk ride down to Y-2 target. The nice surprise was that it flushed down to Y-3. Closed the week near Y-3 and week low.
Outlook Down channel selloff overshoot. Cable has now snapped out of the down channel and will be unstable this week. Wild swing back up to Y-2 / B-0 and flush down to Y-4 cannot be ruled out. All this is still within the context of a wild consolidation week around B-1.
Lawrence's Comment
Recap
No pullback. Just a pause below Y+1 and then popped higher. Closed the week above Y+1 and near week high.
Outlook
As mentioned last week, as long as there is no ...
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 Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Still the best pair to swing trade. Failed to clear Y-0 midweek gave us a low risk ride down to Y-2 target. The nice surprise was that it flushed down to Y-3. Closed the week near Y-3 and week low.
Outlook
Down channel selloff overshoot. Cable has now snapped out of the down channel and will be unstable this week. Wild swing back up to Y-2 / B-0 and flush down to Y-4 cannot be ruled out. All this is still within the context of a wild consolidation week around B-1.
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