Recap Bounced back up to resistance I mentioned last week. Sold off in 2 legs down to target. Still my favorite pair. Closed at the low of the week.
Outlook A drop in B-2 is in play. How cable reacts there will determine if cable is following the macro trend of US dollar strengthening play.
A less likely scenario is that cable breaks B-1 to the downside and bounces back up quickly above B-1. That will force the pair back up to B+1 and possibly higher. This scenario requires US dollar weakening across the board to happen.
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
Cable consolidated around previous week close in extreme tight range. Not even 50% previous week range was made. Closed the week near Y-1 and midpoint.
Outlook
Consolidation in tight ...
Lawrence's Comment
Recap
Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook
A irregular down channel in place ...
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 12 to Mar 16 Outlook
Lawrence’s Comment
Bounced back up to resistance I mentioned last week. Sold off in 2 legs down to target. Still my favorite pair. Closed at the low of the week.
Outlook
A drop in B-2 is in play. How cable reacts there will determine if cable is following the macro trend of US dollar strengthening play.
A less likely scenario is that cable breaks B-1 to the downside and bounces back up quickly above B-1. That will force the pair back up to B+1 and possibly higher. This scenario requires US dollar weakening across the board to happen.
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