Recap Bounced back up to Y-0 as expected. How it was done was interesting as speculations now building up whether the new BOE will behave significantly different from the old BOE. Cable went all the way back up to the original down channel resistance and broken that to the upside. Closed the week above Y-0 and midpoint.
Outlook Bullish setup for the coming week as the down channel is now officially below the weekly close. As long as cable can hold B-0, a push above B+1 and and Y+1 is likely.
Lawrence's Comment
Recap
Consolidation with low volume all week. Trapped within previous week range. Closed the week near Y-0 and midpoint.
Outlook
Consolidation / compression until first week of next year is ...
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
Lawrence's Comment
Recap
Gapped down to our target zone. Then took off and retested Y-0 area. By midweek sold off and broken down below our target zone to close the week. ...
ContentReviewEuro Weekly Pullback ContinuesS&P Just Formed an Interesting Tradable PatternGold Almost ThereBitcoin Last Push in Progress10-Year Note Down Trend in PlaceBig Picture SummaryReviewEuro dropped as expected due to the spike ...
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 Jul 15 to Jul 19 Outlook
Lawrence’s Comment
Bounced back up to Y-0 as expected. How it was done was interesting as speculations now building up whether the new BOE will behave significantly different from the old BOE. Cable went all the way back up to the original down channel resistance and broken that to the upside. Closed the week above Y-0 and midpoint.
Outlook
Bullish setup for the coming week as the down channel is now officially below the weekly close. As long as cable can hold B-0, a push above B+1 and and Y+1 is likely.
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