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
My short term low in place expectation proven to be correct. ES rushed back up above Y-0 since the beginning of the week and consolidated around it. FOMC announcement ...
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 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.
Share