$GBPUSD: Finally confirmed a weekly bottom...

I was monitoring $GBPUSD developments as of late, it was clear to me sentiment had reached a historical extreme and this pair was due for a rebound, which eventually happened. I didn't catch much of it, and watched for developments in weekly scale, as the sideways action in the daily become too lengthy...
Last Friday, we had confirmation from the weekly chart that the bottom was in, which brings a substantial opportunity, reward to risk and probability wise.
If this idea is correct, then we can expect a large scale $DXY reversal (also confirmed by $DXY itself, and the bond market, as well as the 'Barron's magazine cover' indicator having flashed at the top), which suggests $GBPUSD can rally for months to come, and easily retest the range of the Brexit vote:

Maybe a decent time to scoop UK real estate I guess...

Best of luck!

Cheers,
Ivan Labrie.

Komentar:

So far, so good, now trend continuation: