ProFX_Strategist
Short

GBPUSD - The Potential Beginning of A Great Uptrend:

FX_IDC:USDGBP   US DOLLAR / POUND STERLING
32 0 2
Note(s):

This is USDGBP             ( GBPUSD             inverted);

Personally from FX trading experience, I feel that once a particular currency has become so extremely oversold/weakened, then it can only start to become stronger (simply because it can start becoming "less weak"; & not necessarily about getting really/very "Strong"); in order to start moving a pair in one particular direction...

Should the Greenback strength remains around at the current level, but if the Pound starts getting "less weaker"; then this pair ( USDGBP             ) will start falling like a stone...

Or in another different scenario, if the USD do start getting stronger, then this pair will still fall like a stone (if the Pound starts strengthening more aggressively away from it's extreme oversold level) (e.g. just look at how the USDJPY             pair started dropping like a stone at the beginning of 2016 & also during Brexit event; while the USD was getting seriously strong, the Japanese Yen             was getting even far stronger; hence pushing USDJPY             down right at the moment when all of the other USD pairs were rallying in USD favor...)

*When a currency pair rallies to too high a level (becomes extremely overbought/oversold), then it becomes unsustainable/highly-volatile & will have to "break-down" somehow...

This is what I am waiting for (not just for GBPUSD             pair alone, but also for all other GBP & similar other minor, cross & exotic pairs, any which are sitting at an interesting/extreme level currently)...

Best regards.
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