British Pound GBP Long-term Trend Analysis
Currencies / British Pound Feb 07, 2020 - 04:07 PM GMTThis is part 3 of my British Pound Analysis that concludes in a detailed trend forecast for 2020
- British Pound 2019 Review (Part1)
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
However the whole of analysis was first made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.
GBP Long-term Trend Analysis
The overall trend for a good 20 years has been for sterling to trend lower against the US Dollar. However, within this overall bearish big picture sterling does tend to have bull markets that run for well over a year. The most recent bear market ended in August 2019 which suggests that GBP should enjoy a good years worth of upside, maybe right into the end of 2020 before the over riding trend attempts to reassert itself to once more target the bear market lows of £/$1.20 and deeper low of £/$1.15.
Secondly, sterling is showing signs of having broken out of its previous bear market late 2019, that implies several months of upside price action during early 2020.
Thirdly there is clear resistance at £/$1.44 and support at 1.25. Therefore could be expected to trade within this range for likely most of 2020, where a break above 1.44 would target 1.48. Thus with GBP currently near 1.30 then there is far more potential for upside price action towards 1.44 then downside to 1.25.
Therefore as in my early September 2019 analysis, long-term GBP analysis continues to target a trend towards resistance at £/$1.44, which is more likely than not to break to target £1.48. Thus long-term trend analysis appears bullish for the prospects for sterling 2020.
British Pound GBP Trend Forecast 2020
The rest of this analysis has first been made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
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Whilst my next soon to be completed analysis will be a detailed trend forecast for the Stock Market.
Scheduled Analysis Includes:
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Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
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