Recap Intervention by the governments over the weekend disrupted the down trend and induced a short term short covering rally. Rally stalled at Y+1 and closed the week around Y-0 and midpoint of the week.
Outlook Whatever the governments chose to do they better have a long term plan of more market shocking announcements pre-scheduled in the coming weeks. Otherwise, a retest of Y-1 and continuation of the downtrend is more likely.
Lawrence's Comment
Recap
Data problem affecting the chart so the price levels are not drawn correctly. Weaknesses in the beginning of the week failed to take Dow back down to ...
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GBPUSD Dec 05 to Dec 09 Outlook
Lawrence’s Comment
Intervention by the governments over the weekend disrupted the down trend and induced a short term short covering rally. Rally stalled at Y+1 and closed the week around Y-0 and midpoint of the week.
Outlook
Whatever the governments chose to do they better have a long term plan of more market shocking announcements pre-scheduled in the coming weeks. Otherwise, a retest of Y-1 and continuation of the downtrend is more likely.
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