GBP Could Bottom at Forex Futures Sentiment Extreme

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EURUSD Long-Term Technical Forecast

The 5 wave advance from 1.3682 is complete at 2.1160. The decline from 2.1160 is in 3 waves (to this point) but is probably wave A of a 3 flat (or triangle). Expect a large wave B bounce to begin soon and retrace a good deal of the decline from 2.1160.

GBPUSD Fundamental Outlook/Interest Rate Forecast

A surprisingly dovish Bank of England and clearly bearish forecasts for the future of UK growth have forced a substantial correction in British Pound interest rate outlook and tumbles in the GBPUSD. Interest rate markets forecast that the British Pound – US Dollar interest rate differential will shrink by a substantial 149 basis points (1.49 percent) in the coming year of trading—nearly halving the GBP’s interest rate advantage against the USD. If such market forecasts come to fruition, we could see the British Pound fall further against the US dollar.

GBPUSD Forex Sentiment Outlook

British Pound Forex Futures Positioning Signals Short-term Correction