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.
Lawrence's Comment
Recap
Gap up turned into breakout failure. Gave us an excuse to send NQ back down to Y-0. Tagged Y-0 and failed to push it lower since. Then ...
Lawrence's Comment
Recap
Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and ...
Lawrence's Comment
Recap
1-2-3 rejection of Y-1 on 4 hour sent cable back up to above Y+1. Minimal pullback and another push to Y+2 before cable can stop. Closed the week above ...
Lawrence's Comment
Recap
Got Y+2 as expected. Immediate pullback since. Consolidated around Y+1. Closed the week below Y+1 and midpoint.
Outlook
Down trend on daily broken. Now US dollar has to prove its strength ...
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.
Share