GBPUSD Approaching Primary Wave 3
The British pound has been in a downtrend for over a year now. It provided many great shorting opportunities while it lasted, but we are quickly approaching a trend reversal. We have traced out a three-wave decline and hit the 0.786 Fibonacci level. While I can't pinpoint the exact moment the trend reversal will begin, I do believe it is imminent, possibly having already started.
Primary wave 1 lasted almost 15 months. Primary wave 3 will almost certainly be longer. It will probably be at least 1.5-2 years, possibly much longer, before the British pound begins primary wave 4, entering another long-term bear market.
Primary wave 1 lasted almost 15 months. Primary wave 3 will almost certainly be longer. It will probably be at least 1.5-2 years, possibly much longer, before the British pound begins primary wave 4, entering another long-term bear market.
