Trading Edges That Last
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GBPUSD Aug 05 to Aug 09 Outlook
Lawrence’s Comment
My favorite pair behaved nicely last week. Sold off as expected and dropped down to almost Y-3 target before it staged the bounce. Closed the week above midpoint and Y-1.
Outlook
Downside target rejected. Closing above Y-1 gives players an excuse to push cable higher to at least Y-0.
No strong bias this week to lean on from chart pattern. No strong stats supporting a move to either Y-0 and Y-2.
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