GBPUSD Roadmap March 2017
Actualizado
Prepare for landing..and relaunch
Nota
And we start with budget statement today..String of events over next few weeksNota
Interesting that this could be essentially a double bottom/marginal new low 6 months apart from Oct 2016Nota
OK, so we have NFP tomorrow, FED meeting on 15 and G20 meeting the weekend of 18. So critical period this March 10-20 for FXNota
Good so far, seems selling is abating. Next week ultracriticalNota
Large build in net short spec positionNota
OK, so we getting there. It could be sell the rumour, buy the fact event once the process Article 50 has been filed and the process started. Monitor carefullyNota
It does seem Article 50 will be filed last week of March, tomorrow is FED, Thursday could be US proposed budget, and this weekend G20. So not much left for final climax which in any way should be limitedNota
Based on Big Picture ED, GBP should be able to retrace 50% of the decline from 2014 which is around 1.45 by later this year/early next yearNota
Dovish FED , BOE in minsNota
OK, one marginal move to hawkishness via one member. Train is in motion...Nota
All time high net speculative short position..another piece in the puzzleNota
Article 50 to be triggered on March 29 with USD potentially making a final up to (lower high or marginal new high) into 2Q17. So clearly, decision time comingNota
Another solid data point supporting the basing process today. Inflation was hot, so soon I exoect a new theme to emerge called MPGA (Make Pound Great Again).Nota
Sell the rumour, buy the fact. Article 50 trigger weekNota
Pound has bottomed. One more higher low before the breakout IMHO. Medium term target range 1.40/1.45.Nota
GBP pushing stronglyNota
Snap elections MPGA, first time above 200 dma since last June
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