200 SMA Weekly at 1.31511 - this will get cut through in fairly short order
Next leg down is 1.27801 - a realistic target for the week starting 6th December. Could get Christmas at 1.25000 before some sort of relief bounce
Less likely are below
Anything past 1.20 and we are at Brexit Levels - I would expect a major political mis-step / government Prime Minister resign level of event
It's all over at 1.16587 - expect some sort of Uber Corona Headline at this point
Look at the monthly - barely started the sell-off - more pain ahead me thinks. I think 1.20 is crazy but the market can stay irrational longer than you can be solvent.
Next leg down is 1.27801 - a realistic target for the week starting 6th December. Could get Christmas at 1.25000 before some sort of relief bounce
Less likely are below
Anything past 1.20 and we are at Brexit Levels - I would expect a major political mis-step / government Prime Minister resign level of event
It's all over at 1.16587 - expect some sort of Uber Corona Headline at this point
Look at the monthly - barely started the sell-off - more pain ahead me thinks. I think 1.20 is crazy but the market can stay irrational longer than you can be solvent.
