Recap Cable held previous week close and started a squeeze back up to Y+1. Y+1 resistance dropped cable back down. Closed the week below Y-0 and midpoint.
Outlook Ledge like formation on daily points to continuation is more likely than not. The trend was down so expect more downside soon.
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
Lawrence's Comment
Recap
Sell setup never materialize. Just drift up to Y+2 which led to a sharp drop back down to Y+1 support. Closed the week below midpoint and near Y+1.
Outlook
2nd leg ...
GBPUSD Feb 02 to Feb 06 Outlook
Lawrence’s Comment
Cable held previous week close and started a squeeze back up to Y+1. Y+1 resistance dropped cable back down. Closed the week below Y-0 and midpoint.
Outlook
Ledge like formation on daily points to continuation is more likely than not. The trend was down so expect more downside soon.
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