Recap As expected, a strong swing emerged after all those spikey moves. Clearing Y+2 as mentioned last week is not something to counter. Closed the week near week high and above Y+3.
Outlook Very interested in the price reaction in Y+4 to 1.60 area. The strong move higher was the consequence of a big fight down there below Y+1 where the bears lost. That was back then. Now Cable has put in so many pockets and voids below, it will have a very hard time going much higher.
Consolidation around B+1 with down side bias later in the week to retest B-0 / Y+2.
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
More weaknesses as expected with Y-0 resistance worked out perfectly. Flushed down to below Y-2 target. Closed the week below Y-2 and midpoint.
Outlook
Cable is simply playing catch ...
Lawrence's Comment
Recap
Hurriance Sandy removed 2 trading days off the week and that impact showed up clearly in this compressed trading week. Quick flush back down to right above ...
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 16 to Sep 20 Outlook
Lawrence’s Comment
As expected, a strong swing emerged after all those spikey moves. Clearing Y+2 as mentioned last week is not something to counter. Closed the week near week high and above Y+3.
Outlook
Very interested in the price reaction in Y+4 to 1.60 area. The strong move higher was the consequence of a big fight down there below Y+1 where the bears lost. That was back then. Now Cable has put in so many pockets and voids below, it will have a very hard time going much higher.
Consolidation around B+1 with down side bias later in the week to retest B-0 / Y+2.
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