Since it’s top in November 2007, the POUND has followed a nice script. It’s been extremely hard, I can imagine, for long term trend systems because it’s been stuck, I believe, in a multi-year triangle. As you can see from the charts, if this analysis is correct, then new lows below 1.3500 will be a reality. What I believe might have just completed is a 6+ month expanded flat correction, which appears to be the top of wave 2. I have not entered, yet. Am waiting for some confirmation and a lower time frame pattern to appear to allow me to manage risk. Please see the charts below and let me know if you have any questions.
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