This 2021 ought to have some correction on cable to 1.3060 area before any meaningful surge to 1.40 area in the second quarter of the year.
Now have two accounts: first for intraday movements while the second for swing movements.
This week have produced a distance of 261 pips so far (1.3449 - 1.3710) risk reward favours short as no much upside to track in the medium term.
Quick Stat: last time we had 4 consecutive months of buying on GBPUSD was January to April 2012 and the run was 1.5235 - 1.6300 being 1065 pips... This current trend now has 4 consecutive months of buying while this month range still stands at 260 pips so far with a possible 400 pips expected this month of January.
Should low of 1.3449 hold, 1.3850 is imminent which will be a coincidence of 1.2818 (October 2020 low) to 1.3850 projected January 2021 high. Which will equate four consecutive months of buying as 2012 which was followed by 1000 pips drop in the fifth month being May 2012.
Bears should anticipate possible 150 more pips surge to 1.3850 before inevitable crash to 1.2850 area in weeks ahead.
My 2021 forecast states 1.28 ( February to March 2021) to 1.43 (July to October 2021)
Price trades at 1.3695 as at time of typing.
Trade safe and stay safe.
Rejections spur me for greatness!!!
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