All the Pound Pairs have a very similar shape - in a correction after the Brexit turmoil of last year. Given the worst fears are probably "priced in" the pound should make a recovery as the deal is sealed over the coming months and years.
Therefore price should make a recovery from these lows - remember I only trade structure and not fundamentals. Given this we are now watching for a change to the current corrective structure. Once broken we will have a much better idea of where the pound is going. For now I suspect it is making a C correction wave and so is long - this idea is based purely on structure.
All forecasts will be updated as they develop - remember to follow to receive them.
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome
Good luck Steve
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I haven't updated this so far because it has been progressing exactly as I forecast. There isn't any sign yet that anything will change but as we know price rarely moves far without a correction. We don't know how far the C wave will go beyond A but it is likely and I doubt it can get that far with out a nice correction. I'll draw a new chart on the 1H scale so we can get a better idea of when the correction will start
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Well we didn't get a major correction but price has reached last months forecast
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maksheetal
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Thanks for updates Steve, what is your twitter account called so that I may add you. There are a few Steve Nixons on there. Thanks!
SteveNixon
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@maksheetal, you'll find my twitter link in my profile