Trading Edges That Last
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Lawrence's Comment Recap Y+1 acted as resistance, and the less likely scenario worked out perfectly. Free ride from above Y-0 down to Y-1. Closed the week below Y-1. Outlook Tagging Y-2 early in ...READ MORELawrence's Comment Recap Confirmed FBO on Monday gave us the bias for a move down to Y-1. Sold off from a lower high against Y+1 and dropped down to Y-1 smoothly as ...READ MORELawrence's Comment Recap Consolidation at 50% previous week range. Y+1 resistance with Y-0 support all week. Closed the week above Y-0 and below midpoint. Outlook Breaking below Y-0 / B-1 points to ...READ MORELawrence's Comment Recap No surpirse at all - pulled back to Y-0. Found support and then push back up to test Y+1. Did not clear it and stalled. Closed the week near ...READ MOREFor 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 scheduleREAD MOREEURUSD May 13 to May 17 OutlookUSDCAD Nov 27 to Dec 01 OutlookGBPUSD May 09 to May 13 OutlookS&P 500 Dec 25 to Dec 29 OutlookUSDCAD Oct 21 to Oct 25 OutlookNasdaq 100 Apr 11 to Apr 15 OutlookEURUSD Sep 30 to Oct 04 OutlookIntraday Cycle Projection (GBPUSD) 2019-06-07Intraday Cycle Projection (GBPUSD) 2016-01-20Precog Vision – Forex 2020-4-7
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GBPUSD Feb 25 to Mar 01 Outlook
Lawrence’s Comment
Cable pressed at Y-1 in the beginning of the week and then collapsed on news. This staged a 100% expansion move to the downside. Cable tagged 100% absolute range expansion and bounced since. However it failed to move pass the week midpoint. Closed the week below Y-2 and midpoint.
Outlook
Cable tagged an important monthly price level at B-1. As long as B-1 is not breached for long and holding on daily close basis, there is a good chance of cable testing Y-1 again soon.
The drop at the end of last week was the result of Moody downgrading UK after US stock market close. As we have learned before, these rating firms do not play random. So it is a calculated move to press cable down by end of the week. Was it done to help some friends to cover their shorts near the low? Or, someone like cable at this level so much that they need some liquidity to go long before the weekend?
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