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GBPUSD Dec 23 to Dec 27 Outlook
Lawrence’s Comment
Cable failed to move higher and made a new low. FOMC announcement took it back up and stop run printed a new high for the week but there was no follow thru. Closed the week below Y-0 and midpoint.
Outlook
Both directions are rejected. Outside week closing near Y-0. Indecision. Notice it is 2nd outside week which is very rare. We need an inside week now to setup for the next directional move. Otherwise, cable is likely to be trapped within the current boundaries.
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