Recap Y-1 to Y-0 acted as resistance. Sold off to target Y-2.
Outlook A flush low at B-2 early in the week points to consolidation for the rest of the week. If instead we get consolidation between B-1 to B-0, a bigger selloff is in the making.
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
Easy play of last week. 3 pushes up pattern mentioned last week sent Euro straight back down to my target. Closed the week below Y-1 and near week low.
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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
GBPUSD May 16 to May 20 Outlook
Y-1 to Y-0 acted as resistance. Sold off to target Y-2.
Outlook
A flush low at B-2 early in the week points to consolidation for the rest of the week.
If instead we get consolidation between B-1 to B-0, a bigger selloff is in the making.
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