Trading Edges That Last
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As Featured In
GBPUSD Dec 03 to Dec 07 Outlook
Lawrence’s Comment
Tested Y-0 as expected and bounced off quickly too. End of week pushing against Y+1 failed to clear the resistance. Closed the week near midpoint.
Outlook
Not a clear rejection of Y+1 yet but definitely a lot of distribution above 1.60. The line up of B-1 and Y-0 is telling us that next test of that will probably lead to a break down with 1.59 as a reasonable target.
Year end dynamics in play. Cable has a distinct year end pattern. Will post the pattern to the site later.
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