Recap FBO against Y-1 happened and then head and shoulder bottom was formed on 4 hour. Y-0 cleared and crime scene above where the breakdown started was revisited. Closed the week above Y-0 and near week high.
Outlook The open gap above Y+1 is asking for a test. If the gap zone serves as resistance and a swing top is formed, cable will be forced back dwon to test B-0 and below.
Lawrence's Comment
Recap
As expected this pair moved lower slowly towards 0.98. Found some support at Y-2. Closed the week at midpoint and above Y-2.
Outlook
Signs of support but too weak to ...
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
GBPUSD Mar 07 to Mar 11 Outlook
Lawrence’s Comment
FBO against Y-1 happened and then head and shoulder bottom was formed on 4 hour. Y-0 cleared and crime scene above where the breakdown started was revisited. Closed the week above Y-0 and near week high.
Outlook
The open gap above Y+1 is asking for a test. If the gap zone serves as resistance and a swing top is formed, cable will be forced back dwon to test B-0 and below.
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