Trading Edges That Last
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GBPUSD Jul 29 to Aug 02 Outlook
Lawrence’s Comment
Cable popped higher first before pullback gave it a chance to stay above Y+1. That paved the way for cable to tag Y+2. Closed the week above midpoint and Y+1.
Outlook
Tight range week. Rising wedge from the week before last turned into an upchannel. Such structure do not last. A break of B-1 will send cable back down to B-3 and lower easily.
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