Recap Weak pullback not even touching Y-0 ended with another drop to Y-1. Eventually Y-1 was cleared giving us equal distance from previous week close. Closed the week below Y-1 and at week low.
Outlook Consolidation action with weak close is bearish. More down side is expected. A quick flush to B-2 early next week can produce a temporary support for a bounce back up to B+1 / Y-0.
Lawrence's Comment
Recap
Weakest of the 3 major indices. The dirty bottom mentioned last week was being retested by the end of the week. Closed the week below Y-3 and near week ...
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
News shock sent cable back down to Y-1 and 100% range expansion. Stops were triggered and led to further downside to Y-2 before support is found. Closed the week ...
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 Aug 11 to Aug 15 Outlook
Lawrence’s Comment
Weak pullback not even touching Y-0 ended with another drop to Y-1. Eventually Y-1 was cleared giving us equal distance from previous week close. Closed the week below Y-1 and at week low.
Outlook
Consolidation action with weak close is bearish. More down side is expected. A quick flush to B-2 early next week can produce a temporary support for a bounce back up to B+1 / Y-0.
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