GBPUSD Going Forward
GU Decline from end of June 2014 is not complete. Currently correcting October 2016 low. Price clearly rejected from the channel above 1.242 - Loud bully silenced with the snow shovel. Regardless of the outcome of the Parlament vote and deliberation - Brexit means Brexit. CBE contributions to ECB have been suportive to/of the £. It is highly likely that it will end. Demand for UK Gilts created by UK deficit spending have dried up and it become too obvious that the CBE is the purchaser of last resort. Should the equity markets continue to sell off, demand for £ is miniscule relative to demand for $. CBE has turned attention to EM currencies and will continue to follow suit. Strengthening London Sharia financing along with the London yuan exchanges confirms that. The recent price action jolts is a distraction. Sleazy, devious and perfidious Albion £ took advantage of everybody in the neighborhood and is retreating afraid of being slapped senseless. CBE has run out of morons abroad and is breeding them domestically instead.
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