Shown is just a simple chart for the British Pound.
For most of this charts life the #POUND has traded above the violet shaded S&R zone until the #BREXIT vote which led to the breaking of major support.
As you can see after breaking below the brown shaded S&R zone it has reversed its role to now resistance from below.
#GBPUSD has been forming the blue rectangle which has now made a new all time low in the history of this currency.
I believe it will enter a new trading zone over the next few years...
with a possibility of continuing on to its ultimate target of 0.71
meaning less than 3/4 of a dollar will buy 1 Great British POUND
Even though #BITCOIN, #GOLD, #SILVER are coming under pressure
At some point British citizens would be advised to seek shelter in alternate forms of money.
For most of this charts life the #POUND has traded above the violet shaded S&R zone until the #BREXIT vote which led to the breaking of major support.
As you can see after breaking below the brown shaded S&R zone it has reversed its role to now resistance from below.
#GBPUSD has been forming the blue rectangle which has now made a new all time low in the history of this currency.
I believe it will enter a new trading zone over the next few years...
with a possibility of continuing on to its ultimate target of 0.71
meaning less than 3/4 of a dollar will buy 1 Great British POUND
Even though #BITCOIN, #GOLD, #SILVER are coming under pressure
At some point British citizens would be advised to seek shelter in alternate forms of money.
Note
Have we put in another major lower high for the #poundNote
#GBPUSD 2025a $1.20 seems likely after a major lower high was put in place in September
Note
#GBPUSD#DXY
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.