Recap Cable reacted strongly to the resistance zone mentioned last week and dropped lower since. Closed the week below Y-0 and at week low.
Outlook Inside week down close. Bearish for a test of Y-1 / B-2. Longer term target is still the September low but that may take longer tiime to get there.
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
Tried to reverse early last week from Y+1 but a higher low was formed instead. The retest of Y+1 resulted in a breach of the level and ...
GBPUSD Sep 29 to Oct 03 Outlook
Lawrence’s Comment
Cable reacted strongly to the resistance zone mentioned last week and dropped lower since. Closed the week below Y-0 and at week low.
Outlook
Inside week down close. Bearish for a test of Y-1 / B-2. Longer term target is still the September low but that may take longer tiime to get there.
Share