Mocean

GBP/USD Monthly Flagpole? Extension = Parity (1.000)

Short
FX:GBPUSD   British Pound / U.S. Dollar
1
I'm posting this not as my prediction but rather to foster debate from the wider audience as to the merits of this TA?

Forex Live posted an interesting piece on seasonal FX cycles - where history shows Jan is Bearish for Cable.

http://www.forexlive.com/blog/2014/12/26...

I recently started researching Flagpole patterns and found this potential pattern emerging on GBP/USD Monthly. Combined with some EMA + MACD it potentially paints an alarming picture for Cable reaching Parity 1.0000.

As I am just exploring this as a thought and wanted to "flag" it to traders for more discussion - so comments welcome.
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