Trading Edges That Last
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GBPUSD Sep 24 to Sep 28 Outlook
Lawrence’s Comment
Y-0 never challenged. Cable simply consolidating around Y+1 within 50% absolute range. Closed the week below Y+1 and midpoint.
Outlook
The more interesting scenario is that cable breaking below B-1 for confirmed false breakout. That will give us a decent selloff to B-3.
The more likely outcome is the usual slow pullback and/or another popup to challenge the Y+2 area quickly as B-1 acting as support.
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