FX:GBPUSD   British Pound/U.S. Dollar
165 1 1
I think we are in C of W4 and we have a last sharp rally higher to another fib level at which point the last W5 fall will hit GBP hard. However, if you look at the really long term data, after W5 it is possible that GU mounts a huge rally and basically the USD collapses. Where W5 ends... who knows but probably at least the 2008 low.

This hypothesis lines up with my thinking of a deflationary event kicking in before inflation kicks in big time, which is when gold             would finally mount the mega rally everyone keeps going on about. I'm not sure though as gold             may perform well in a deflationary scenario... right now i'm more concerned with catching a medium term rally in GU to a fib level higher whatever that may be.

This EW count does seem to need a final W5 down and the last few years price action seems corrective. Also, I have noticed that this A-B-(a-b-c(C)) correction is fairly common so why not on a larger time frame?
2 years ago
* note that timing of getting long will need to be more accurately timed on a smaller timeframe... on the daily timeframe the recent price action is definitely only corrective so higher prices are likely in the coming days
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