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.
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
As expected, a strong swing emerged after all those spikey moves. Clearing Y+2 as mentioned last week is not something to counter. Closed the week near week high and ...
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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