Forgot to ask, are pennants even valid over this time scale? If not then what would you call this pattern?
I was looking at long term charts and when I looked at the monthly GBP/USD chart I noticed a rather disturbing pennant. The drop before the pennant starts around $2 and the pennant is around $1.50 which would give a target range around $1. Does anyone think this is likely?
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Parity is still a llllllooonnnggg way off. It would need to drop approximately 1/3 of its value, a big move which would require some major negative fundamental news
Me too!Decadal Redux... All I can say is Holy S**t!
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