Trading Edges That Last
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Lawrence's Comment Recap Y-1 failed to act as support thus turning Y-0 into resistance zone. The pair then dropped from Y-0 down to Y-2 and closed the week there. Outlook Uptrend in Aussie ...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 Trapped inside Y-1 to Y+1. The spike and ledge formation is intact. Closed the week below midpoint and is an inside week. Outlook Breakout formation in place. The breakout direction ...READ MORELawrence's Comment Recap More upside as expected. Consolidated around Y+1. Closed the week near Y-0 and below midpoint. Outlook First week long pullback. as long as Y-0 / B-1 acting as support, B-0 is ...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 MOREAUDUSD Sep 12 to Sep 16 OutlookUSDJPY Jan 11 to Jan 15 OutlookUSDJPY Jan 09 to Jan 13 Outlook3DP Odds Table (GBPUSD) 2022-08-26Precog Vision – Forex 2020-9-30USDCAD Aug 29 to Sep 02 OutlookAUDUSD Apr 01 to Apr 05 Outlook3DP Odds Table (GBPUSD) 2019-03-12Precog Vision – Forex 2013-1-16Weekly Cycle Projection (GBPUSD) 2021-09-06
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GBPUSD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
As mentioned last week, Y-1 rejected points to down trend invalidated. So this week we got a run back up to Y+1 to see if the other boundary can be taken out. It did. Breakout play pointed to Y+2 and we got that. Funny how BOE chief can just turn the whole thing around suddenly. Closed the week below Y+1 and midpoint.
Outlook
I mentioned last week to expect “wide range consolidation”. We got it. Although how it ended was very dramatic, it is not unexpected that BOE would do something to contain Cable from going higher. This type of actions will continue for at least several months as central bankers duel it out.
This week as B+1 is rejected decisively, cable will be forced to consolidate around Y+1 / B-0. Normal situation it will be capped within Y+2 and Y-0 with decreased range.
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