GBPUSD Roadmap Oct 2016
Updated
One final downleg.. and sigh of relief
Note
Event risk next week as both FED and BOE have meetings. GBP net short position is very large...Note
The corrective bounce is on as expected. Potential target range 1.26/1.28 before the final downleg takes effectNote
Next week Yellen testifies plus some important UK eco data. Week of 23 Nov is the UK Budget statement. So 1.26/1.28 before reversal down is most likely scenarioNote
Short term top in this corrective swing higher should come next 1-2 weeks before the final downleg into 1Q17Note
On time, the first red reversal candles appeared. Next week is FED meetingNote
Major low formingNote
Slow bottom forming. Marginal new low still possible but very late in the game. Let's see this month the Article 50 trigger and initial noises. Initial target could be in 1.40/1.45 range. So much upside if correct
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