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.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
As expected a rounding top that FBO against Y+1 and gave us Y-1 easily. The bonus is the move down to Y-2 to end the week. Closed the week ...
Lawrence's Comment
Recap
Flushed to new low but bounced at once back above Y-1. Closed the week above midpoint and Y-1.
Outlook
Another longer term potential bottom in the making. Confirmation would ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
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.
Share