Inside the Currency Market, GBP and Targets
|For the past 12 months, long term targets per currency pair were written ad nauseam because long term targets must not only achieve trade objectives but it doesn't matter to a current price of a currency. When GBP/USD traded from 1.3400's to 1.1900's, the long term target never materially changed.
For example, 12 months ago, GBP/USD's long term target was written 1.3800's. In 18 months, averages dropped therefore long term targets went from 1.3800's to current 1.3380. The 9 year currency cycle bottom at 1.1977 not only traded but 1.1977 was a higher low from October 2016 at 1.1903.
GBP/USD long term targets offered not only opportunity for the easist long term and most profitable trade but no effort was involved. GBP/USD achieved its 1.3380 target yesterday after a 4 month wait period from the 1.1900 bottom and a 1400 ish pip profit.
The lower GBP/USD traded offered not only a trade direction long but added profits.
GBP/JPY Long term target at 148.05 achieved its destination yesterday and traded to 147.90. A target objective forecast many months ago and only off by 15 pips. GBP/JPY traded lows at 126.00's and target achieved for a 2100 pip gain.
GBP/CHF achieved its long term target at 1.2912. GBP/AUD big line is located at 1.9451.
GBP/CAD and GBP/NZD and for the most part, GBP/AUD are irrelevant to long term targets due to their extraordinarily wide ranges. GBP/USD, GBP/CHF and GBP/JPY are the drivers to GBP/NZD, GBP/CAD and GBP/AUD as GBP/NZD,GBP/AUD and GBP/CAD just roll with daily, weekly and monthly punches.
Many 4, 5 and 700 pip trades were written here and targets achieved. And the story remains the same as in 2012, no charts, graphs, stops nor concern to daily market pablum.
My forecasts are not only perfect but one must however believe in the numbers. And one must also note the 8 year consistency to targets, a consistency achieved and learned over many, many years of hard work. Proud accomplished is ability to beat any banker forecast. And not only currencies but any market price on the planet.
This week's GBP trades contained 3 round shorts. The first short from 1,3214 to 1.3126. Then 1,3229 to 13051. Now short from 1.3500's. We're running +266 pips on 2 trades and much more will follow upon current short targets. Our trades are more games of ping pong as we trade currency prices up and down, up and down over many years.
GBP/USD. Big line above 1.3520 and 1.3560. Ironic to dead stop yesterday at 1.3515. GBP/USD price extreme is located 1,3617.
Short targets are located at easily 1.3135 upon a break of 1.3376.
GBP/JPY short targets are located at 143.06 easily upon a break of 146.06. GBP/JPY price extreme is located at 149.08.
GBP/AUD caution 1.9451 and shorts below to target 1.9226.
GBP/CHF Targets 1.2550 upon a break of 1.2767.
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