Hi friends,
Since Carney joined the BOE (bank of England) it seems that his work to devalue the pound is his only goal!
It’s pretty clear that England needs a weak pound now, the only question left is, what price do they want it?
Watching on a monthly chart, I can say that we all might be part of history as pound might get new lows against the dollar. Here is what I see on the monthly chart.
Click on the chart to enlarge:
After breaking down the triangle, looks like the bears here to stay and we should sell the rally every time we can.
This is a long term trade opportunity, and it seems too good to miss it, as for now. After all, not every day we get a chance to be a part of history created. Holding such trade is all about trading psychology, as most traders are not able to wait so long. Time will tell if this technical breakdown will lead to new lows.
Yours,
Vladimir Ribakov
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