June 2016 Brexit Vote Looms
03/31/16 INSIIDE Track:
“The FTSE has rallied and neutralized its weekly downtrend multiple times… but NOT reversed it to up. It would take a weekly close above 6216 to do so. This pattern is setting the stage for an intermediate peak & reversal lower at this time.
The period leading into the much-anticipated Brexit vote – on June 23, 2016 – should see increasing volatility, the result of heated debate in a very close contest. Escalating European attacks are exacerbating that. Though not quite as intense (yet) some aspects of this debate resemble the immigration debate in the U.S. GOP primaries…
The British Pound remains weak and on track for a drop into May/June 2016 and to 1.3500/BP. The June 23rd referendum on Brexit should continue to weigh on this currency. June 2016 also completes multiple 360-degree cycles.”
The British Pound continues to anticipate another sharp decline, in line with weekly & monthly cycles as well as many longer-term cycles – linked to the 40-Year Cycle. Look for continued weakness into (at least) June 2016.