Recap Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
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
Lawrence's Comment
Recap
Comparing to S&P, Dow dropped more significantly and displayed weaker price action all week. Of course, we now know JPM was the reason.
Outlook
Similar to S&P, Dow ...
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
Lawrence's Comment
Recap
Cable snapped out of its tight down channel to the upside which led to a charge towards the start of the channel at Y+1. Y+1 tagged and cable stalled ...
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 Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Cable attempted to hold Y-1 and failed. Consolidation below Y-1 also failed later in the week resulting in a drop until 50% range expansion completed. Closed the week below Y-1 and near week low.
Outlook
Down channel in tight range do not last. A flush is in the card which is in line with the parabolic pattern. B-3 target.
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