Recap Y-1 holds gave us a push for Y+1 and above. Consolidation around Y+1 after 100% absolute range expansion. Closed the week above Y+1 and near week high.
Outlook 4 hour bear flag / up channel in the making. Channel resistance above points to potential pullback to B-0 / Y-0 zone. Clearing the channel resistance points to daily up trend for a run to B+2 and B+3.
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
Lawrence's Comment
Recap
Y-0 did not hold, drifted back down to Y-1. Closed the week above Y-1 and below midpoint.
Outlook
Not a significant sell off. Just drifted lower. No real sense ...
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 Apr 25 to Apr 29 Outlook
Lawrence’s Comment
Y-1 holds gave us a push for Y+1 and above. Consolidation around Y+1 after 100% absolute range expansion. Closed the week above Y+1 and near week high.
Outlook
4 hour bear flag / up channel in the making. Channel resistance above points to potential pullback to B-0 / Y-0 zone. Clearing the channel resistance points to daily up trend for a run to B+2 and B+3.
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