Recap Rejected twice below Y-0 at 1.62. 2nd time sent cable down to Y-2. Staying weak as expected. Sold off to the nearest target as expected. Closed the week above midpoint and Y-1.
Outlook End of year next week. It is difficult to tell if we are getting a longer term top here as trading was thin. Will focus on short term daytrading opportunities instead of swing trade until after 1st 2 weeks of 2013 is over.
Lawrence's Comment
Recap
Y-1 to Y-0 has acted as resistance so far this week as price failed to move outside of this range.
Outlook
If a sell formation shows up in B-0 to ...
GBPUSD Dec 31 to Jan 04 Outlook
Lawrence’s Comment
Rejected twice below Y-0 at 1.62. 2nd time sent cable down to Y-2. Staying weak as expected. Sold off to the nearest target as expected. Closed the week above midpoint and Y-1.
Outlook
End of year next week. It is difficult to tell if we are getting a longer term top here as trading was thin. Will focus on short term daytrading opportunities instead of swing trade until after 1st 2 weeks of 2013 is over.
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