GBPUSD 8 year cycle can be true?
As some markets analysis models suppose - there are major market reversal cycles somewhere around 7 years length. As we connect two previous lows on the monthly chart (2001-06-01 and 2009-01-01) appears next same length low could be expected at the end of this summer (2016-08-01). That's 91 month cycle (7 years and 7 months) and one more lowest low was 94 month length (1993-08-02 - 2001-06-01).
One more thing we can say - GBPUSD seems like have magnetic middle zone of equilibrium somewhere around all time high and low Fibonacci 50%. And if this equilibrium period was in below side of the 50%, next could go above as the previous cycle was.
In the other hand - this chart looks like huge Head & Shoulders pattern, but we strongly doubt about the price dropping to 1.0 - 0.7 zone (as classical model of head & shoulders suggests).
At the moment market is at major support level of 1.45. It is in the middle between past swing (2009-01-01 and 2014-07-01) high Fibonacci retracement levels of 61.8% and 78.6%.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website.
Best wishes for new incoming trading year! ;)
One more thing we can say - GBPUSD seems like have magnetic middle zone of equilibrium somewhere around all time high and low Fibonacci 50%. And if this equilibrium period was in below side of the 50%, next could go above as the previous cycle was.
In the other hand - this chart looks like huge Head & Shoulders pattern, but we strongly doubt about the price dropping to 1.0 - 0.7 zone (as classical model of head & shoulders suggests).
At the moment market is at major support level of 1.45. It is in the middle between past swing (2009-01-01 and 2014-07-01) high Fibonacci retracement levels of 61.8% and 78.6%.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website.
Best wishes for new incoming trading year! ;)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.