Pound Mid Term Analysis

After the big drop of dollar index form July, we believe it's the end of the wave, based on time, price, and fundamentals.

The pound is the same. The end of the bull wave. We see a MASSIVE drop in the next months. 💀

There isn't a confirmation in price action YET. So you should wait for it. We will update the chart on this post when we saw the confirmation (so make sure you click on "Follow this idea". It will make you know if there is an update for this chart). Remember, no confirmation = no trade. 👌

The long term targets are:
1.225 ✅
1.207 ✅

All of our analysis is based on pure price action and order flow analysis. So don't judge fast ;) ❤

Comment:

After 1 month finally, we are seeing a lower low in daily and this could be our market structure break! Why I'm saying "could"? Because it's so close to 1.35 institutional level. So there are 2 scenarios:

- HARD & sharp move to the down side.
- Making a range (specifically, a double bottom pattern in daily) and hunting
the 1.3515 level.

If the second scenario happens, AFTER daily LL... Man! coffin dance ...

Basically $91.75 shouldn't be touched again in DXY (Dollar Index). If it happens, it does NOT mean it's canceled completely. It means, market wants to expend for the last time and we should wait for the next opportunity (Daily HH).

Be in touch my friends ❤

Trade active:

Today is 10 Nov and Jo Biden completed 270 electoral votes. BUT...

- There is a %99 chance of winning...

GBP will be crashing HARD. Even if we see A BIG hunt and spike to the upside, the overall analysis is steel valid.

Comment:

Biden would N O T win this election ...
Between the 2 of them, the one who born on June 14, 1946, will be the president :)