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
Pulled back to Y-0 and bounced right off. Retested Y+1 and consolidating around it. Closed the week near Y+1 and above midpoint.
Outlook
The pullback and then the retest ...
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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