Recently price has been falling sharply, heading towards the 2009 lows of 1.35000 to test it. If we break this crucial level of support it means price is finally out of this range, bulls are out and the bears are in ready to drive the price lower between 1.30000 and 1.20000.
Stay tuned, I'll be posting regular analysis across all major currency pairs.
It's amazing how this move has developed over the past 2 years.
Since price broke support at 1.35 it created an all time low for GBP/USD. Now price has returned back to resistance which is why it caught my attention.
This will provide many opportunities going forward on shorter timeframes.
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The China stock market should run into the last bull cycle in 12 months. It could go historical highs with the Renminbi deposit interests hiking cycle and shall collapse after 4 hikes to press it down. I would like to see the first Renminbi deposit hike in 2018. Now the biggest investment is China cheap stocks.