Trading Edges That Last
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Lawrence's Comment Recap The FBO short play worked out perfectly with Y-1 tagged by the end of the week. Y-0 acted as resistance all week. Closed the week near Y-1 and week ...READ MOREFor 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 scheduleREAD MOREIntraday Cycle Projection (GBPUSD) 2014-09-26AUDUSD Jun 29 to Jul 03 OutlookDow 30 Apr 04 to Apr 08 OutlookPrecog Vision – Forex 2012-9-33DP Odds Table (GBPUSD) 2019-10-07Hot n Cold (GBPUSD) 2012-11-23USDJPY May 14 to May 18 OutlookIntraday Cycle Projection (GBPUSD) 2015-06-113DP Odds Table (GBPUSD) 2014-08-043DP Odds Table (GBPUSD) 2023-05-02
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GBPUSD Oct 07 to Oct 11 Outlook
Lawrence’s Comment
The best pair to trade last week. Breakout play from Y+1 to Y+2. A thin up channel in place giving us a potential top in the making. Lower high retest of Y+2 and then breaking Y+1 gave us below Y-0 target. Closed the week at week low and below Y-0.
Outlook
Need cable to close below Y-1 on weekly basis to confirm daily up trend broken. For now will treat this as a strong pullback only.
Looking for more downside this week. B-2 reasonable target. But cable can stage a bounce from there and close above Y-1 if this is just a strong pullback.
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