Major bull market in the Pound going forward

FX:GBPUSD   British Pound / U.S. Dollar
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Whether it's 1.54 or 1.49, the bottom for the Pound is in. At this point we may see a long term consolidation, but eventually the pound looks like it will move much higher. I believe the USD and GBP will be the strongest two currencies among the rest, so look to go long GBP against the weakest currencies. GBPAUD             , GBPCAD             - all present terrific opportunities to go long for the long term. Overtime, the chart tells me the GBP will reach 1.70 once again against the dollar, and maybe even 1.95.
The only problem is where to place a stop loss...all those crosses have insanely wide ADR's.
+1 Reply
Lanmar IvanLabrie
That's very true.. Best to be very selective on entry. I guess that's where this quote, "the toughest trades to make are often the most profitable" comes from. This quote often refers to difficult stop placement, but trades that never look back until they hit a logical target. ;)
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