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Lawrence's Comment Recap Gapped down to Y-2 to start the week provided the necessary fuel for Euro to run back up to Y-0. Since then all week in congestion due to the ...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 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 Jul 06 to Jul 10 OutlookIntraday Cycle Projection (GBPUSD) 2015-12-16Precog Vision – Forex 2017-1-23Weekly Cycle Projection (GBPUSD) 2019-01-21Precog Vision – Forex 2016-7-11Intraday Cycle Projection (GBPUSD) 2022-05-113DP Odds Table (GBPUSD) 2021-02-12Dow 30 Dec 02 to Dec 06 Outlook3DP Odds Table (GBPUSD) 2022-01-28GBPUSD Jun 26 to Jun 30 Outlook
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GBPUSD Feb 27 to Mar 02 Outlook
Lawrence’s Comment
Unlike euro that has ECB defending the price level in the beginning of the week, cable was falling normally as expected back down to Y-1. Then the breakout of euro to the upside dragged cable up. Closed the week above Y+1.
Outlook
As long as Y+1 acts as support, we have a double bottom in place with upside target Y+3.
If it is proven to be false breakout, meaning that we see cable dropped back under Y+1, then Y-1 will be in play again.
Very much a news driven market affected by euro zone crisis. Daytrading the pair is easier for now.
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