Recap Y-1 / Y-0 zone defended early in the week points to a test of Y+1 coming. Y+1 cleared with ease and ended the daily down trend. Normal upside target of Y+2 tagged. Closed the week above Y+1 and midpoint.
Outlook Daily down trend broken but new up trend not established yet. So 2-way play until a new trend emerges from this. B+1 resistance points to a test of B-0 likely.
Lawrence's Comment
Recap
News shock from the start of the week failed to damage the bullish technical pattern I mentioned last time. Somehow Y-2 was never tagged in that flush ...
Lawrence's Comment
Recap
Support zone mentioned last week worked out well. Upside targets tagged. 100% range expansion led to a mild stop run. Closed the week above Y-0 and below midpoint.
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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
Consolidation at 50% week range. Initial FBO against Y+1 led to a pullback to Y-0. Y-0 held and gave us a retest of Y+1. Closed the week above Y-0 ...
GBPUSD Jun 15 to Jun 19 Outlook
Lawrence’s Comment
Y-1 / Y-0 zone defended early in the week points to a test of Y+1 coming. Y+1 cleared with ease and ended the daily down trend. Normal upside target of Y+2 tagged. Closed the week above Y+1 and midpoint.
Outlook
Daily down trend broken but new up trend not established yet. So 2-way play until a new trend emerges from this. B+1 resistance points to a test of B-0 likely.
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