Trading Edges That Last
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Recap of Last Week Yellow zone acted as support and the pair went higher as expected. It did not quite reach the target area (green zone) because it stalled ...READ MORELawrence's Comment Recap Y+1 acted as resistance on first test and sent cable down to support zone mentioned last week. Cable rallied straight up from support back up to Y+2 my upside ...READ MOREIntraday Cycle Projection (GBPUSD) 2021-02-033DP Odds Table (GBPUSD) 2020-10-26Weekly Cycle Projection (GBPUSD) 2015-01-12S&P 500 Sep 30 to Oct 04 OutlookIntraday Cycle Projection (GBPUSD) 2011-10-04Intraday Cycle Projection (GBPUSD) 2023-02-17Intraday Cycle Projection (GBPUSD) 2015-11-17GBPUSD Jan 24th to 28th OutlookIntraday Cycle Projection (GBPUSD) 2019-09-10GBPUSD Oct 19 to Oct 23 Outlook
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Lawrence’s Comment
Bounced back up to resistance I mentioned last week. Sold off in 2 legs down to target. Still my favorite pair. Closed at the low of the week.
Outlook
A drop in B-2 is in play. How cable reacts there will determine if cable is following the macro trend of US dollar strengthening play.
A less likely scenario is that cable breaks B-1 to the downside and bounces back up quickly above B-1. That will force the pair back up to B+1 and possibly higher. This scenario requires US dollar weakening across the board to happen.
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