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Lawrence's Comment Recap Weak upside drift early in the week ended with news shock mid week by ECB taking cable upto Y+2. Y+2 stopped the run and sent cable back below Y+1. ...READ MORELawrence's Comment Recap NQ upside breakout with ES and Dow. The only one out of the 3 indices reached its Y+2 upside target. NQ then failed to hold onto its gain and ...READ MORELawrence's Comment Recap Breakout mode triggered to the downside. Y-3 tagged quickly and extended to Y-4 (also first week of month midpoint) before a bounce. Closed the week above midpoint. Outlook The ...READ MOREIntraday Cycle Projection (GBPUSD) 2018-08-14GBPUSD Dec 01 to Dec 05 OutlookEURUSD Jun 13 to Jun 17 OutlookNasdaq 100 Apr 28 to May 02 Outlook3DP Odds Table (GBPUSD) 2018-11-22S&P 500 Feb 28 to Mar 04 OutlookUSDCAD Aug 09 to Aug 13 Outlook3DP Odds Table (GBPUSD) 2019-10-07Hot n Cold (GBPUSD) 2012-10-26Dow 30 Dec 31 to Jan 04 Outlook
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GBPUSD Feb 20 to Feb 24 Outlook
Lawrence’s Comment
More downside as expected. Intervention by ECB resulted in a squeeze that closed the week at midpoint.
Outlook
Money is leaving EU and no long term investors want to risk their money on government junk bonds that are created to loot their wealth. Cable is closely tied with euro thus it will be difficult for cable to rally off the current level.
Similar to last week, there is limited upside potential here for cable and significant downside risk. A clean break of B-1 will drop this pair down to B-3.
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