Recap What resistance? Y-0 did not even give cable a pause when it shot up from previous week close. That opened the door to Y+1. Cleared Y+1 midweek. Pullback to midpoint and continue to match higher. Closed above Y+1 and near week high.
Outlook 1.61 resistance cleared and is now support. Until 1.61 turning into resistance, will not be interested in the short side at all.
Coming 2 weeks are holiday week and year end. Light volume is consolidation likely.
Lawrence's Comment
Recap
Consolidation play worked out on first 4 days of last week. NFP Friday killed the pullback party and the aggressive swing long players are toasted. Tagged 2X ...
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
GBPUSD Dec 17 to Dec 21 Outlook
Lawrence’s Comment
What resistance? Y-0 did not even give cable a pause when it shot up from previous week close. That opened the door to Y+1. Cleared Y+1 midweek. Pullback to midpoint and continue to match higher. Closed above Y+1 and near week high.
Outlook
1.61 resistance cleared and is now support. Until 1.61 turning into resistance, will not be interested in the short side at all.
Coming 2 weeks are holiday week and year end. Light volume is consolidation likely.
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