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Lawrence's Comment Recap Waiting for the breakout paid off. Upside breakout tagged the usual Y+3 target and paused there. After NFP price zoomed to Y+4 and stalled. Closed the week above Y+3 ...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 Rumors / news shocks flying high with inverse head and shoulder formed against Y-1. Upside breakout immediately get us Y+3 target. Closed the week above Y+2 and at weak ...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 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 MOREUSDCAD Jan 13 to Jan 17 OutlookNasdaq 100 May 30 to Jun 03 Outlook3DP Odds Table (GBPUSD) 2017-02-103DP Odds Table (GBPUSD) 2017-07-19Intraday Cycle Projection (GBPUSD) 2018-03-15Precog Vision – Forex 2013-12-31EURUSD Jun 06 to Jun 10 OutlookPrecog Vision – Forex 2017-12-20Precog Vision – Forex 2019-10-7Precog Vision – Forex 2011-11-30
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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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