Steven_Maas

GBPUSD Years to come. Back to the future.

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
The most logical path I could find based on current structure support // resistance levels. The divergence is merely marked because I find it interesting to watch on the RSI alone. I've backtested RSI divergence on smaller timeframes and they were relatively reliable in terms of minor retracements and larger reversals. Would have to combine with more data to validate this however. And then we haven't even spoken about fundamentals yet.

My guess is the first leg up will possibly start with heavy turbulence forward towards next year well into June 2017. Possibly GBPUSD             will not even create a double bottom there, but it's the most interesting support // resistance line I could find at the moment.

This means UK Brexit has set UK back about 3/4 years in time if we're lucky.
Live long and prosper.
TAJ249
5 months ago
I think wave 3 would be the shortest wave in this count (if you are using Elliot Wave) which would invalidate the wave count.
Reply
Steven_Maas TAJ249
5 months ago
Alright, I'll have a look into it TAJ249, thank you for the feedback!
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