Where the major markets could be moving?

GBP/USD

This is the monthly GBP/USD chart I was referring on my twitter yesterday morning.
As London is still one the major financial markets, this chart formation is definitely very worrisome.
The previous sell-down was about conservatively 6500pips (From 2 to 1.35).
And as you can see there is possible large bearish pennant chart pattern.
Additionally, it coming close to its APEX (Peak/End of the triangle). And if I'm not wrong, I was told before that the move after APEX usually (70% of the time) follows the one before APEX.
Lastly, for those Elliot Wave traders, GBP/USD is already in its 5th wave of recovery/consolidation.

I'm not saying that it will DEFINITELY fall 6500pips. Or even fall.
As long as the bottom trend line of the triangle can support the prices, it will not fall.
However, this one is one major charts to infer for the directions of the financial markets for the next few months or years to come.

My advise: Slowly reduce the longs you are making. Or time to cut some small losses. :D