Wanted to highlight an intriguing chart from Kevin. He points out that the British Pound is essentially trading in cycles over an extended time period, hitting a pivotal low every 8 years or so. Under this premise, the GBP has hit one of those 'bottoms' a few months ago and should trade higher for an extended period. It will however be interesting to see if it can sustain such a cyclical movement given the extremely unique macro environment we are currently seeing. At any rate, take it for what it's worth:
(click to enlarge)Late last week we also looked at the chart of gold for those of you who may have missed it. And, as always, there are plenty of good reads on our technical analysis recommended reading list.
