Recap Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
Lawrence's Comment
Recap
Pullback to my support and then continue to match higher. Stopped at 100% absolute range expansion. Closed the week near week high and above Y+1.
Outlook
A monthly breakout in the ...
Lawrence's Comment
Recap
Consolidation expectation worked out nicely. Ninja zoomed to Y+1 and found resistance. After 2nd try at Y+1 and failed to clear the stage was set for a drop back ...
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 07 to Nov 11 Outlook
Lawrence’s Comment
Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook
No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
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