Trading Edges That Last
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GBPUSD Jul 02 to Jul 06 Outlook
Lawrence’s Comment
Drifted near B-1 as mentioned last week. That led to a flush below Y-1. Yet news shock from euro zone changed its course and forced a reversal back up to above Y-0. Stopped finally when 100% range of last week is reached. Closed at the week high.
Outlook
A short term bottom is forced in place. It does not matter how it is done. As long as B-0 acts as support, looking for cable to go higher with B+2 as first target.
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