Recap Got the breakout to the upside early in the week and the spike low in the middle of the week never breached Y-0. The nice surprise is that by end of week the upside breakout tagged Y+4 as oppose to stopping at Y+3. Closed the week near week high and above Y+3.
Outlook The final breakout at the end of the week is pure stop run during the holiday period. It is not sustainable and B-0 is likely to be tested quickly.
Until B-0 is proven support, cable may have to retest B-1 or even Y-1 first before going higher.
Lawrence's Comment
Recap
Similar to Dow, but much weaker by the end of the week as NQ closed the week at around midpoint.
Outlook
A break below Y-0 to B-0 will give ...
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GBPUSD Nov 26 to Nov 30 Outlook
Lawrence’s Comment
Got the breakout to the upside early in the week and the spike low in the middle of the week never breached Y-0. The nice surprise is that by end of week the upside breakout tagged Y+4 as oppose to stopping at Y+3. Closed the week near week high and above Y+3.
Outlook
The final breakout at the end of the week is pure stop run during the holiday period. It is not sustainable and B-0 is likely to be tested quickly.
Until B-0 is proven support, cable may have to retest B-1 or even Y-1 first before going higher.
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