Will GBPUSD Actually Tumble To 1.16 Level? Lets Laugh For Now !
I bet you really laughed hard on the title and believe me i was laughing too as wrote the analysis. LOL, LMAO or whatever but the power of harmonic patterns can never be underestimated. Harmonic patterns can gauge the direction of the market on a very respectable note. Here we have a POTENTIAL CRAB pattern that might become a reality in the coming months, which inturn would mean the GBPUSD would tumble all the way to 1.16 level!
Now thats pretty undervalued currency if that happens! and is bound to reverse if the pattern completes. Potential harmonic patterns are sometimes great as an added confluence factor to where a market might be headed. Currently the GBPUSD pair has been more prone to fundamental factors (BREXIT issues solely) rather than technically driven! Trading any GBP pairs using technical analysis is like carrying a bomb in your pocket which can explode at any moment. Until this BREXIT issues never resolve the GBP will have hard time to be driven technically.
The UK might be on the verge of exiting the EU without a deal and everything is heating up and if this happens, expect the GBP to fall as far as it can go. Everything is in balance with BREXIT negotiations and if everything goes wrong the GBP will tumble.
Although already undervalued at the moment the GBP will tumble to new levels of all time LOW should BREXIT negotiations go SOUTH. For now lets just laugh but if the GBP hits 1.16 we should get serious and ready to BUY the pair which will yield a very excellent risk to reward ratio.
Now thats pretty undervalued currency if that happens! and is bound to reverse if the pattern completes. Potential harmonic patterns are sometimes great as an added confluence factor to where a market might be headed. Currently the GBPUSD pair has been more prone to fundamental factors (BREXIT issues solely) rather than technically driven! Trading any GBP pairs using technical analysis is like carrying a bomb in your pocket which can explode at any moment. Until this BREXIT issues never resolve the GBP will have hard time to be driven technically.
The UK might be on the verge of exiting the EU without a deal and everything is heating up and if this happens, expect the GBP to fall as far as it can go. Everything is in balance with BREXIT negotiations and if everything goes wrong the GBP will tumble.
Although already undervalued at the moment the GBP will tumble to new levels of all time LOW should BREXIT negotiations go SOUTH. For now lets just laugh but if the GBP hits 1.16 we should get serious and ready to BUY the pair which will yield a very excellent risk to reward ratio.
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