GBPUSD Roadmap Nov 2020

By Neon

Updated

Recovery goes through multimonth corrective phase before resuming into next Spring

Note

Need to adjust the range to 1.38/1.48

Note

1.47 seems achievable into March. Just this last week, FED mins mentioned that they have started discussing TAPER which will intensify given my expectations for coninued acceleration in both US GDP and inflation into Spring which should put a floor on the USD from March onwards

Note

So far has been forming an elongated base pointing to the levels i have mentioned above. Timingwise, this may happen in June/July, not in Spring

Note

Today GBPUSD tagged the multiyear downtrend resistance from Oct 2007 and July 2014

Neon

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