Potential new run in GBPUSD

This move looks the real thing, having started from the long term point of control.

Trade active:

One of the great (or scary) things about this phase of market development is the lack of a target. Steidelmeyer just said there's a price that stops the market. So stay long and look for signs of the next phase, development of a new POC which could be some way off. I don't want to jinx it by saying it might be as high as 1.3200, but there you go!

Trade closed: target reached:

Long term Point of Control (Daily chart) achieved. Might continue but likely to spend some time correcting the recent strong run.