GBPUSD -Lowest weekly close since 1984! Long-term view
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This pair is oversold and just put in the lowest weekly close since 1985! A 34 year low
The previous low just post brexit was 1.2166 and the all time weekly close low is at 1.064 in March 1984
Next weekly close levels back in the eighties was 1.1985 , 1.1915.If 1.19 is broken it will go down to 1.12 to 1.14
I believe it will retrace back up from levels close to where we are now but in the months to come put in a low around 1.14 to 1.15 before it heads back up to 1.6 - 1.8
The previous low just post brexit was 1.2166 and the all time weekly close low is at 1.064 in March 1984
Next weekly close levels back in the eighties was 1.1985 , 1.1915.If 1.19 is broken it will go down to 1.12 to 1.14
I believe it will retrace back up from levels close to where we are now but in the months to come put in a low around 1.14 to 1.15 before it heads back up to 1.6 - 1.8
Nota
see below the weekly close levels as mentioned above
Nota
below a posting i made Feb 2018. This view still holds
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