Recap Cable found support at Y-0 and eventually challenged Y+1 and then the break down crime scene I mentioned last week. Thatès all it can do and the selloff started. Closed the week near Y-0 and below midpoint.
Outlook The daily bear flag on cable will be confirmed if a daily close below B-1 is printed. The longer term players will likely give up longs and lead to a drop back down to Y-1 and below.
Lawrence's Comment
Recap
Tight range 2-way swings as expected. 50% week range. Closed the week near Y-0 and midpoint.
Outlook
Compression points to breakout mode. The struggle to hold Y-0 points to ...
Lawrence's Comment
Recap
Rallied to target zone 1350 and stalled. Closed the week at midpoint.
Outlook
Out of the 3 major indices, S&P is the weakest.
Breaking below B-1 points to a test ...
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 23 to Nov 27 Outlook
Lawrence’s Comment
Cable found support at Y-0 and eventually challenged Y+1 and then the break down crime scene I mentioned last week. Thatès all it can do and the selloff started. Closed the week near Y-0 and below midpoint.
Outlook
The daily bear flag on cable will be confirmed if a daily close below B-1 is printed. The longer term players will likely give up longs and lead to a drop back down to Y-1 and below.
Share