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Lawrence's Comment Recap Support at previous week close gave Dow a platform to go higher. Target Y+2 tagged and then a stop run overnight zoomed YM higher and then collapsed back down ...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 MORELawrence's Comment Recap Previous week close support sent ES back up to challenge week high so far. Gap above allowed for Y+1 breakout. Closed the week above Y+1 and midpoint. Outlook B+1 ...READ MOREContent Review Euro Short Term Bulls Struggling to Hold Their Ground S&P First Break Not Necessarily Completed ...READ MOREDow 30 Aug 18 to Aug 22 OutlookPrecog Vision – Forex 2018-2-22Intraday Cycle Projection (GBPUSD) 2012-10-26Intraday Cycle Projection (GBPUSD) 2020-12-033DP Odds Table (GBPUSD) 2011-04-06GBPUSD Jan 17 to Jan 21 OutlookHot n Cold (GBPUSD) 2018-1-12S&P 500 Apr 18 to Apr 22 OutlookMBO Issue 85 (Jan 2019) 2019 The YearHot n Cold (GBPUSD) 2011-12-8
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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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