Pound index: Interesting level to short and then reload longs
Updated
This is my weekly, monthly and quarterly Pound forecast.
The uptrend is very strong but might have reached critical mass already, and is bound to correct very soon.
I plotted potential levels and signals based on time at mode analysis of it.
Right now, I'm bearish on the Pound, in the short term, but bullish in the longer term, so I'd like to wait to buy the correction lows and just watch for the perfect entry.
Good luck and hope this chart is useful information for other traders.
Cheers,
Ivan.
The uptrend is very strong but might have reached critical mass already, and is bound to correct very soon.
I plotted potential levels and signals based on time at mode analysis of it.
Right now, I'm bearish on the Pound, in the short term, but bullish in the longer term, so I'd like to wait to buy the correction lows and just watch for the perfect entry.
Good luck and hope this chart is useful information for other traders.
Cheers,
Ivan.
Note
Uptrend target hit and reversed as expected.Note
We now have a 6 week downtrend signal active here.Note
Strong downtrend for the Pound overall. En route for retesting the uptrend mode at 1.683.Note
And mode retested.Note
Time expired in the GBP index downtrend, in the weekly...the rally in the 2 monthly chart I have updated becomes more probable.
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