Been an interesting week for the Pound. We rejected the 1.2240 zone, and moved above a previous consolidating level in 1.2420. The move on 7-1 left a liquidity vacuum above that 1.2420 zone, followed by a volume node, poor structure that we are correcting. From a weekly perspective, we are above last week PoC (precisely the .2420 zone), and this week PoC is above as well (1.2480).
I'd expect higher highs based aiming at 1.2560-1.2580. Any move with conviction below 1.24 would generate a bearish bias.
I'd expect higher highs based aiming at 1.2560-1.2580. Any move with conviction below 1.24 would generate a bearish bias.
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So far...so good....