Here's a very long term chart.
Now that DXY appears to be readying for a bull run here is a window into GBPUSD.
With price fakeout and return it looks like cable is respecting this long term descending wedge.
I think this will easily get to 0.618 $1.242 as a first target.
But in line with DXY bull market and also my GOLD and SILVER calls see linked threads, it seems probable this will be a 1.618 extension seeing GBP fall to sub $1 sometime around 2027 - 2029.
Not advice.
Now that DXY appears to be readying for a bull run here is a window into GBPUSD.
With price fakeout and return it looks like cable is respecting this long term descending wedge.
I think this will easily get to 0.618 $1.242 as a first target.
But in line with DXY bull market and also my GOLD and SILVER calls see linked threads, it seems probable this will be a 1.618 extension seeing GBP fall to sub $1 sometime around 2027 - 2029.
Not advice.
I'm somewhat quiet on TView for now but you can find me pumping content every day in my Telegram Trading Group 🧐
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
