Recap Cable held Y-1 and cleared Y-0 for its Brexit low test. Since then Y-0 support sent cable higher until 100% absolute range expansion was reached. Closed the week above Y-0 and near midpoint.
Outlook Potential inverted head and shoulder in the making if B+1 is cleared with target B+3. As long as B+1 is acting as resistance, continuation to the downside is still likely.
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
Lawrence's Comment
Recap
Sold off to the target area and then bounced back to Y-1 first and eventually Y-0. Closed the week at Y-1 near midpoint.
Outlook
Weak rally and stalled at Y-0 ...
Lawrence's Comment
Recap
NQ chose to breakout above 4300 in 1 go. That's a low probability move hence giving us the 100% range expansion. Closed the week above Y+2 and at week ...
GBPUSD Jul 18 to Jul 22 Outlook
Lawrence’s Comment
Cable held Y-1 and cleared Y-0 for its Brexit low test. Since then Y-0 support sent cable higher until 100% absolute range expansion was reached. Closed the week above Y-0 and near midpoint.
Outlook
Potential inverted head and shoulder in the making if B+1 is cleared with target B+3. As long as B+1 is acting as resistance, continuation to the downside is still likely.
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