Just food for thought.
We have a confirmed uptrend signal after an extended sideways correction, coming off a significant low after a steep downtrend completion back in 2012.
The Pound could start rallying well into 2016 if this forecast isn't invalidated.
Similar to the Euro             , I will only look for long opportunities in these pairs, unless the chart calls for a very good short.

Cheers,

Ivan.
Trade closed: target reached
Comment:
snapshot
This is a weighted average, but not a true picture of the currency in terms of sentiment. The calculation is off.
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You're right, it's not perfect. It did work somewhat to predict the path and timing of the moves though.
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Rocketman PRO IvanLabrie
Try adding a parameter for the currency relative to its trade-weighted partners, for example: http://varianse.com/Basket-Live-gbp.html <-- this site has done it. Here is a calculation that New Zealand's central bank has for is Trade Weighted measure of the effective exchange rae:
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Rocketman PRO Rocketman
It doesn't show my calculation....interesting..
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Interesting, email that to me, a screenshot would do: ivanlabrie at yahoo
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Looks like the vertical advance now leads us back to the mode.
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Hi Ivan,

How did you create this chart ? I cannot get it on my charts it says invalid symbol.
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Hi, you need to input the following in the search symbol field:

(gbpusd+gbpaud+gbpnzd+gbpeur+gbpcad+gbpchf+(gbpjpy/100))/7

Then hit enter and presto.

BTW, target not reached, I think the Pound rally will continue some more.
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HEmmanuel PRO IvanLabrie
Nice one Ivan, many thanks for this. I will try it when I get back home. Yea you a right, pound is still strong and will continue the rally for a while. Today both Pound and US dollar have been in correction mode across the board.
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Very stop uptrend, we reached low volume resistance. Might cooldown a bit.
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