The Biggest Falling Wedge I've Ever Seen...
GBP/USD over the long-run shows a clear falling wedge.
Not only this, but it shows clear correlation to the time-cycle diagram represented in cyan.
Additionally, the drips in the cycle also conform to a Fibonacci time-zone outline.
I strongly suggest that the 3 factors outlined here suggest that we are due a GBP pullback over the next 2 - 3 years thereafter setting it up for a substantial rally (as outlined by the white arrows).
This could also suggest a short-run dollar rally, then a longer-term dollar pullback (which coincides with my short-run bullishness on the dollar).
This is a very very long term forecast and is taking place on the weekly chart using data stretching back to the mid-90s, but it is definitely worth watching as this has implications for lots of other assets including within Forex and I'd suggest also the FTSE100 and FTSE250.
Not only this, but it shows clear correlation to the time-cycle diagram represented in cyan.
Additionally, the drips in the cycle also conform to a Fibonacci time-zone outline.
I strongly suggest that the 3 factors outlined here suggest that we are due a GBP pullback over the next 2 - 3 years thereafter setting it up for a substantial rally (as outlined by the white arrows).
This could also suggest a short-run dollar rally, then a longer-term dollar pullback (which coincides with my short-run bullishness on the dollar).
This is a very very long term forecast and is taking place on the weekly chart using data stretching back to the mid-90s, but it is definitely worth watching as this has implications for lots of other assets including within Forex and I'd suggest also the FTSE100 and FTSE250.
