Recap Capped by previous week close / Y-0. Eventually did the test of Y-1 and took off before it was even tagged. Cleared previous week close and gave us equal distance upside. Closed the week near Y-0 and above midpoint.
Outlook Inside week with close near Y-0 points to indecision, again. Cable stopped at projected stair step resistance from past 2 weeks so no clue whether it is turning bullish or not.
Upside breakout of B+1 from B-0 points to a run to B+2.
As long as B+1 is not cleared, bias towards a retest of B-1 / Y-1.
Lawrence's Comment
Recap
Cable reversed its down trend from exactly the level I mentioned last week and zoomed to Y+1. Very strong reaction to Y+1 bringing cable back down to Y-1. Closed ...
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
No quick drop and bounce. Just slow motion selloff all the way. Paused at Y-2 but failed to bounce at all. Ended the week after tagging Y-3 and ...
Lawrence's Comment
Recap
Y-0 support and then breakout to the upside. 100% absolute range expansion stopped the rally. Closed the week above Y+1 and midpoint.
Outlook
Y+1 / B-0 support for the ...
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 Jun 09 to Jun 13 Outlook
Lawrence’s Comment
Capped by previous week close / Y-0. Eventually did the test of Y-1 and took off before it was even tagged. Cleared previous week close and gave us equal distance upside. Closed the week near Y-0 and above midpoint.
Outlook
Inside week with close near Y-0 points to indecision, again. Cable stopped at projected stair step resistance from past 2 weeks so no clue whether it is turning bullish or not.
Upside breakout of B+1 from B-0 points to a run to B+2.
As long as B+1 is not cleared, bias towards a retest of B-1 / Y-1.
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