shred101

The Biggest Falling Wedge I've Ever Seen...

FX:GBPUSD   British Pound / U.S. Dollar
GBP/USD over the long-run shows a clear falling wedge .

Not only this, but it shows clear correlation to the time-cycle diagram represented in cyan.

Additionally, the drips in the cycle also conform to a Fibonacci time-zone outline.

I strongly suggest that the 3 factors outlined here suggest that we are due a GBP pullback over the next 2 - 3 years thereafter setting it up for a substantial rally (as outlined by the white arrows).

This could also suggest a short-run dollar rally, then a longer-term dollar pullback (which coincides with my short-run bullishness on the dollar).

This is a very very long term forecast and is taking place on the weekly chart using data stretching back to the mid-90s, but it is definitely worth watching as this has implications for lots of other assets including within Forex and I'd suggest also the FTSE100 and FTSE250.

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