Recap Held Y-1 as support, took off and tagged Y+1. That part was expected. The failure to go higher than Y+1 leading to a pullback was also expected. But the news shock surprised the players and brought the pair down to week low again, I was a bit surprised too. Ended the week by rallying to the high of the week.
Outlook As mentioned last week, Y+2 is still the target. And if that is taken out, B+3 next. A breakdown below B+1 implies B-0 in play again.
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 Feb 21 to Feb 25 Outlook
Lawrence’s Comment
Held Y-1 as support, took off and tagged Y+1. That part was expected. The failure to go higher than Y+1 leading to a pullback was also expected. But the news shock surprised the players and brought the pair down to week low again, I was a bit surprised too. Ended the week by rallying to the high of the week.
Outlook
As mentioned last week, Y+2 is still the target. And if that is taken out, B+3 next.
A breakdown below B+1 implies B-0 in play again.
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