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Lawrence's Comment Recap Y-0 did not act as support at all on first test. This opened the door to Y-1 and the test of Y-1 led to a strong bounce. Closed the ...READ MORELawrence's Comment Recap Consolidation actions around Y+1 as expected. Resistance mentioned last week stopped the push higher. FBO against Y+1 sent this straight down until 100% absolute range expansion was reached. Closed ...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 MOREUSDJPY Mar 30 to Apr 03 OutlookIntraday Cycle Projection (GBPUSD) 2012-02-28USDJPY Apr 10 to Apr 14 Outlook3DP Odds Table (GBPUSD) 2015-05-29Intraday Cycle Projection (GBPUSD) 2021-11-23USDCAD May 11 to May 15 Outlook3DP Odds Table (GBPUSD) 2012-12-26USDCAD Jan 25 to Jan 29 OutlookPrecog Vision – Forex 2020-12-31S&P 500 Mar 13 to Mar 17 Outlook
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Lawrence’s Comment
As expected, cable moved back down to Y-1 first. Sadly, the bounce off Y-1 failed to push cable above the week high and led to one more flush back down to week low. Closed the week at week low and below Y-1.
Outlook
A not very well formed head and shoulder is in place visible in 4-hour chart. A break below B-1 with that turning into resistance points to a drop to at least B-3.
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