Recap Monthly level weaknesses continues. Attempt to clear Y-0 failed leading to selloff down to Y-3 normal target. Closed the week near Y-3 and week low.
Outlook Short term support at round number 1.45. Potential consolidation around B-1. If flush down without tagging B-2 and snap back up quickly above B-1, a pullback to Y-2 / B-0 will be in play.
Lawrence's Comment
Recap
No pullback, just consolidation in tight range around previous week close / high zone. NQ then took off with ES and Dow upon the non-resolution in Europe on Friday. ...
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
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 Jan 18 to Jan 22 Outlook
Lawrence’s Comment
Monthly level weaknesses continues. Attempt to clear Y-0 failed leading to selloff down to Y-3 normal target. Closed the week near Y-3 and week low.
Outlook
Short term support at round number 1.45. Potential consolidation around B-1. If flush down without tagging B-2 and snap back up quickly above B-1, a pullback to Y-2 / B-0 will be in play.
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