Trading Edges That Last
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Lawrence's Comment Recap Tagged Y+1 target early in the week from a gap and failed to hold above Y+1. That gave us a shot to drop ES down to Y-0 ...READ MORELawrence's Comment Recap Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 ...READ MORELawrence's Comment Recap New high was made as expected. But we also know a short term top is in, see here, so the selloff is not a surprise. The real surprise is ...READ MORELawrence's Comment Recap Y-0 resistance sent ninja down to Y-1. Y-1 failed to hold it up and led to a slide down to Y-2 and a retest of the spike low at ...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 MORES&P 500 Apr 02 to Apr 06 OutlookAUDUSD Apr 20 to Apr 24 Outlook3DP Odds Table (GBPUSD) 2013-03-05Dow 30 May 09 to May 13 OutlookWeekly Cycle Projection (GBPUSD) 2020-11-30USDJPY Oct 19 to Oct 23 OutlookPrecog Vision – Forex 2019-10-7Intraday Cycle Projection (GBPUSD) 2018-09-03Intraday Cycle Projection (GBPUSD) 2014-02-18Intraday Cycle Projection (GBPUSD) 2019-08-15
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GBPUSD Oct 27 to Oct 31 Outlook
Lawrence’s Comment
As mentioned last week cable was not strong enough to produce a bullish close hence it has to deal with a pullback first. We got the pullback after the rising wedge was broken to the down side. Y-0 tagged and acted as support. Closed the week above Y-0 and near midpoint.
Outlook
Another week attempting to pusher higher yet failed to produce a strong close. This is a clear sign of weakness. Until Y+1 / B-0 turning into support, cable will likely be forced into dumping below B-1.
Should the weekly down trend resumes, B-3 is the next down side target.
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