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
Majority of the week was trapped within Y-0 to Y+1 as expected. The disaster just happened has brought the pair back down to Y-1 to close.
Outlook
It is not ...
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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