Could GBPUSD Lead The Majors Lower?
One of the smartest men I know, and a great trader and investor to boot, Dr. Bill Williams once told me that the smartest thing you could tell yourself was "I don't know". Implied in that sage advice is the equally valuable "never pretend to understand something you don't". I've been thinking of Bill's advice recently when considering the British Pound. We have been focused on GBPUSD recently because the majority of its tradeable patterns have been lower since January 9th -- see Figure 1 -- and it has been behaving very nicely from a fractal perspective - each counter-trend rally is ... (full story)