Trading Edges That Last
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Lawrence's Comment Recap As expected, cable moved back down to Y-1 first. Sadly, the bounce off Y-1 failed to push cable above the week high and led to one more flush back ...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 MOREDow 30 Oct 24 to Oct 28 OutlookIntraday Cycle Projection (GBPUSD) 2013-04-01EURUSD Oct 19 to Oct 23 OutlookPrecog Vision – Forex 2012-2-9Weekly Cycle Projection (GBPUSD) 2022-04-18GBPUSD Apr 22 to Apr 26 OutlookPrecog Vision – Forex 2014-9-9USDJPY Nov 27 to Dec 01 Outlook3DP Odds Table (GBPUSD) 2013-05-283DP Odds Table (GBPUSD) 2020-05-26
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GBPUSD Oct 13 to Oct 17 Outlook
Lawrence’s Comment
Cable simply bottom out at Y-1 and rallied to Y-0 as expected. Went sideway since and holding the week mid at the time before took off again to tag the pre-break down crime scene. Strong reaction there leading to a steep pullback to 1.60. Closed the week below Y-0 and B-0.
Outlook
Strong reaction to the crime scene above implies lots of trapped long have not been flushed out from the system. Upside will be capped for a while until enough volatile down side actions taking out the longs. It does not translate to much lower price level. Just more 2-way big swings in the card.
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