This analysis is more of a forecast than a signal as I'm trying to escalate what’s going to happen with the Cable's price action against the unstoppable Greenback.

Last Friday, I have witnessed one of the nastiest price volatilities in my Forex markets' observations.

Markets reacted in a volatile fashion. Feasted upon Chair Powell's recent Jackson Hole's speech!

Greenback's rival currencies have no other way but to endure more bearish nosedives ahead.

The DXY index printed a fresh multi-year high by intraday's upside outburst. The Greenback have entered levels that were never seen since October 2002.

With the Euro's continued weakness, another Forex major currency needs to step up and challenge the king dollar! That could be the Aussie as it looks like it has some cards to fight back.

After a fresh swing low printed Tuesday last week, that could have been the long-term bearish continuation sign if short sellers paid more attention but no one have thought that might be only few.

Should GPBUSD ended its previous week's candle in green, specifically a hammer after the fresh swing low print, that could have supported the sudden upswing on Friday's trading and then we have the right to call that was the bottom.

Instead the reverse happened! Big thanks from the Fed's Chair more hawkish tone in his Jackson Speech the same day. With USD's next instance target to seek more value around September 2022 levels, the previous week high might be GBP's pinnacle!

Meanwhile, Greenback's recent peak may commence a quick pullback or more correction time before next leg upward as August comes to a close.

I'm looking for a pattern that will potentially lead GBPUSD to the next historical third higher low based on connecting the February 1985 and March 2020 monthly bottoms.

I bet a long entry at 1.1483 as it intersects well inside the third HL buy zone, this can take a lot of time to be hit but can be worth the wait. A continued surging US dollar and a strong market volatility support this scenario!

I give a 300-pip take profit to 100-pip stop loss risk management. A 3:1 RR score.

Overselling Fears Might Form GPBUSD's Next Historical Lows

Aug 29 2022

2