GBP/USD Rally may have toppedOnwugbene.com
Our Big Boys index for GBP/USD is once again at an extreme. If you are new to our subscription service, the Big Boys index has helped call market lows and highs since 2005.
As a countertrend indicator, it is showing an extreme in its net value of the outstanding position for GBP/USD. The Big Boys are at approximately -21K net short. This position comes close to the extreme reached in 2016 when the GBP/USD (Cable) fell over 1700pips in one week alone.
(See Point on Chart)
GBP/USD High – SELL Rallys
At almost every market top, I see the Big Boys index for GBP/USD falling below our SELL trigger point of 10-15.
As of 31st Day of December 2019, this Big Boys Index point stands at 5.34 which is an extreme.
Traders holding LONG positions are advised to tighten stops. Hopefully, the GBP/USD might make one more high before BEARs step in to match and provide the supply that will certainly ignite the Downward trend.
Since 3rd September 2019 when GBP/USD bottomed at 1.19581 to 16th December 2019, our subscribers have made over 1000pips from the rally.
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