Recap Resistance zone mentioned last week sent cable to new low against Y-1. 3 Pushes Down enabled cable to stage a come back to Y-0 crime scene. Stop hunt since then sent cable back up to where the spike reversal started. Closed the week above Y-0 and midpoint.
Outlook B+1 / Y+1 strong resistance until proven otherwise. 2 weeks trapped within the wild range week is giving us a whiplash play if spike reversal against Y+1 happens again. The target for the setup will be Y-2.
Lawrence's Comment
Recap
As expected, the weekly downtrend continues. Non-stop selling trapped bottom pickers and flushed to Y-2 downside target. Closed the week near week low.
Outlook
As long as Y-1 acts ...
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
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 Nov 02 to Nov 06 Outlook
Lawrence’s Comment
Resistance zone mentioned last week sent cable to new low against Y-1. 3 Pushes Down enabled cable to stage a come back to Y-0 crime scene. Stop hunt since then sent cable back up to where the spike reversal started. Closed the week above Y-0 and midpoint.
Outlook
B+1 / Y+1 strong resistance until proven otherwise. 2 weeks trapped within the wild range week is giving us a whiplash play if spike reversal against Y+1 happens again. The target for the setup will be Y-2.
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