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As Featured In
GBPUSD Feb 08 to Feb 12 Outlook
Lawrence’s Comment
Surprise rally tagging Y+1 negated the bear flag break on 4 hours and in turn giving us STOPD shcok breakout target of Y+3. Y+3 almost tagged and cable stalled from there. Closed the week above Y+1 and near midpoint.
Outlook
Shock driven rally in a daily down trend does not change the trend on higher timeframe. This means cable has to fight the week and monthly resistance above now making it more difficult to engage this coming 2 weeks. 2 way swings expected with tight range around B-0.
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