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Lawrence’s Comment
Sold off in the beginning of the week. Bounced off fib level (see USDCAD comment) and rallied all the way up to 200% absolute range expansion target. Ended the week stuck at the top part of the week`s range.
Outlook
Unlike the metal currencies, cable is showing clear intention of holding above Y+1 and to go higher. Breaking above B+1 means B+2 and B+3 in play.
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