Trading Edges That Last
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Lawrence's Comment Recap Consolidation around the yearly breakout level. Closed the week below Y-0 and near week low. Outlook Inside week points to breakout mode. Longer term support at 1.28 and slightly ...READ MOREFor more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time scheduleREAD MOREAUDUSD Jan 02 to Jan 06 OutlookWeekly Cycle Projection (GBPUSD) 2014-05-05Precog Vision – Forex 2021-3-5Precog Vision – Forex 2021-5-24Intraday Cycle Projection (GBPUSD) 2017-02-06Intraday Cycle Projection (GBPUSD) 2019-02-25Precog Vision – Forex 2020-10-5USDCAD Apr 11 to Apr 15 OutlookDow 30 Jun 13 to Jun 17 OutlookPrecog Vision – Forex 2014-9-12
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GBPUSD Oct 31 to Nov 04 Outlook
Lawrence’s Comment
As stated last week, stairstep rally in place. Upside target of Y+2 tagged by end of the week.
Outlook
Stairstep rally is very difficult to snap out of, thus it is not a good idea to fade the strength at this point in time.
Several pocket zones are left behind that once some form of top is place (e.g. double top, 1-2-3 sell off important resistance zone) then cable will slide back down to these pockets quickly. Y-0 is the closet one at the moment.
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