Outside Range Weeks : GBP & AUD

• Less than an hour to NY close on a Friday night. The week's price bars/candles more or less formed.
• Now (4:22 am S'pore) : GBP/USD at 1.6495. AUD/USD at 0.9146.
• Outside range weeks (vs last week = higher highs, lower lows & reversal of direction on close) for both of these currency pairs. Expect both to be under pressure early next week.
• AUD/USD UpTL support comes in at 0.9124 next week. Cable at 1.6112. Aussie's UpTL is a good one with multiple points of contact ie good support and equally good sell signal if it breaks.
  
• Warning : In this Risk Assets rally from Mar09, the AUD/USD has had 1 other outside range week in Aug09 around 0.8400. This failed dismally as a trade signal. Probability of success this time round might be slightly better given the ominous look of this week's large black candle.
• Addendum (6:47 pm 21Nov09) : Actual NY closes = 1.6508 and 0.9145.