Trading Edges That Last
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GBPUSD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook
Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
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