Trading Edges That Last
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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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