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Lawrence's Comment Recap Not an exciting week. Just consolidation within Y-0 and Y+1. Closed the week above midpoint and below Y-1. Outlook As expected we got a consolidation week. It is also the seasonal ...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 22 to Jul 26 OutlookIntraday Cycle Projection (GBPUSD) 2022-12-27Intraday Cycle Projection (GBPUSD) 2018-12-17USDCAD Sep 03 to Sep 07 Outlook3DP Odds Table (GBPUSD) 2012-01-03Precog Vision – Forex 2017-5-29Precog Vision – Forex 2023-5-2Intraday Cycle Projection (GBPUSD) 2018-02-02Intraday Cycle Projection (GBPUSD) 2023-04-273DP Odds Table (GBPUSD) 2016-05-03
As Featured In
GBPUSD Jan 05 to Jan 09 Outlook
Lawrence’s Comment
The breakdown in cable is not a surprise for chart traders given the way it was suppressed at Y-0 / 1.56 area. Breakout target of Y-3 was almost tagged by the end of the week. Closed the week below Y-2 and at week low.
Outlook
More downside is expected. Surprise announcements also expected given the European Union is now in full panic mode. This is a repeat of the bullshit we’ve seen since 2007-2008 about the European debt issues.
Based on their past track record, we are looking at at least 2 to 3 months of jawboning, news shocks from the officials until some form of agreement is made.
Smaller timeframe players will be able to better management their positions and find trading opportunities over daily swing level players because of potential sudden price shocks.
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