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Wednesday, 9 October 2013

GBPUSD: 9 Oct 2013, Wednesday, 10.20pm Singapore Time

GBPUSD: 9 Oct 2013, Wednesday, 10.20pm Singapore Time

The following is the GBPUSD Daily Chart (A LARGE WAVE OF 5000.0 PIPS move is coming).

Points to take note:

1. The GBPUSD had broken down and is back-testing the GREEN Support-Turned-Resistance.

2. The GBPUSD is back-testing the LIGHT-BLUE Resistance, a critical Region as shown.

3. Volatility is expected at RED Critical Region which is the current time zone in the X-Axis.

4. If both GREEN and LIGHT BLUE Ultra-Strong Resistances hold and 1.5000 breaks down convincingly, GBPUSD will carry on its Secular Down Move which will see GBPUSD having target of slightly less than $1.0000.

5. However, if both GREEN and LIGHT BLUE Ultra-Strong Resistances do not hold and 1.62600 breaks up, entire downtrend of GBPUSD will be negated, bringing a tremendously large upwave in GBPUSD with $2.0000 as first target and break-up of $2.1000 as second target.

6. A very volatile Era of British Pound is coming starting from October 2013.

<< FINAL JUDGEMENT >>:

7. The Great British Pound will have a very big market of large price action moves in the following few years (at least 5000.0 PIPS).

8. The large price move resulting from the very large price structure breakdown of GBPUSD currently means that GBPUSD will be capped by the green band of support-turned-resistance. Once this green band of resistance is backtested successfully, GBPUSD will break down $1.50000 in within the next 3 years from 2013. There will likely be a major event that triggers this big move down.


9. After GBPUSD has broken down $1.50000, the major event that triggers this big move breakdown will be responsible for forming a major resistance capping GBPUSD, and it could likely be at $1.34000-$1.40000 range of resistance (classical line base of the very large symmetrical triangle formed by the green band on chart). After this final backtest of resistance, GBPUSD will eventually go for the final target of 1.0000 or less to complete the secular cycle

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