I had a chart depicting the uptrend in the Pound expressed in gold.
The forecast for the wave 3 top was correct, and it seems that wave 4 has ended.
It technically can't dip any lower, unless it's a terminal pattern.
This would imply that we might see a rally in GBPNZD, and in GBPUSD, naturally.
Just as extra information, we can also perform an analysis of individual currency indexes, constructed using all major currencies vs one instrument. I've done this in the past and it yields very good results when paired with the time at mode methodology.
Look for longs in the Pound crosses, I know I will.
Regards,
Ivan Labrie.
Time at Mode FX
The forecast for the wave 3 top was correct, and it seems that wave 4 has ended.
It technically can't dip any lower, unless it's a terminal pattern.
This would imply that we might see a rally in GBPNZD, and in GBPUSD, naturally.
Just as extra information, we can also perform an analysis of individual currency indexes, constructed using all major currencies vs one instrument. I've done this in the past and it yields very good results when paired with the time at mode methodology.
Look for longs in the Pound crosses, I know I will.
Regards,
Ivan Labrie.
Time at Mode FX
Comment:
Pound holding its own, looks bullish.
Comment:
On track so far.
Comment:
Time for longs again.
Comment:
Nice confirmation of GBP weakness.
