Recap Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more 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
Lawrence's Comment
Recap
A minor data problem affected the chart. Week high was 1.05 area which was a challenge of the resistance zone and failed. Closed the week below Y-0 ...
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
Tagged resistance zone as expected, but no breakout above that. Instead, ninja fell back down to Y-0 eventually. Most part of the week was spend holding right below Y+1 ...
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 27 to Jul 31 Outlook
Lawrence’s Comment
Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook
Inside week weak close is bearish. Breakout mode with B-0 cleared from below will lead to at least a test of B+1. B-0 strong resistance until proven otherwise with downside breakout more likely.
Share