We are looking at a trend change in British pound so pay close attention to events ahead. A close above 12674 will be bullish and a close below 12200 will warn of possible decline.
A risk to see complete monetary reform as early as 2018 exists, the long term risk adjusted in real terms for inflation also remains a long term risk.
This market has remained bearish since the 28158 high in 1959. With no yearly bullish reversals from the major low in 1985 warning we remain in a bearish long term trend. This has warned that the overall trend of this market remains bearish since it has been unable to make higher highs.
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