The GBP is at 18 month highs... but can it continue?

Almost six weeks ago now, I published an article on my website called “What Does Brexit Now Mean for the British Pound?”. In this article…

I cut through all of the distractions offered by the media

…to show you how simple price chart patterns and movements (known as price action) was clearly revealing the next major move for the UK’s currency.

Despite the massive fear in the country about a further significant currency drop…

I explained that the Pound was about to rise significantly

Mainstream financial analysis will have you know that the changes in the value of the GBP in the last few days were due to the latest concession made by the Prime Minister May. However, as I demonstrated in black and white this outcome was clearly foreseable before any news had been released. Just another example of why watching the news is (worse than) a waste of time.

The British Pound made new 18 month highs

…against the EUR and significant moves against all currencies yesterday. Many of my students have joined me in making large profits in GBP pairs, particularly in GBPAUD and EURGBP (which was covered in the previous article).

This is not the first time the articles published for free on this website have shown excellent accuracy in forecasting future movements. I also spoke about Gold and Silver extensively before their recent massive move higher, the US stock market before it’s huge fall at the end of 2018 and have shared individual trades before they profited, such as EURAUD.

This is just the latest demonstration of the power of the simple techniques taught at the Mangrove Trading Academy.

I know I've been away from Steemit for a while, but I plan to post here more regularly. If you don't want to miss out on my latest ideas, I suggest you sign up to my free newsletter via my website.

But enough of talking about the past.

Where is the Pound going next?

When I share my thoughts on major moves unfolding in the markets, I focus on significant, longer-term changes in value. My forecast was not about the (relatively) insignificant moves of the past few days.

So basically, what I’m saying is:

The GBP move has just begun

I expect much higher prices in the GBP in the next few months and later in 2019, with respect to most, if not all other major currencies.

However, we may soon require further consolidation (a pause) or a pullback (retracement) of this move before the next leg can begin.

I continue to expect the US Dollar to weaken in 2019 as I set out in my previous article, which you can read here.

Want to learn how I do this?

Mangrove Trading Academy are running a free, interactive training series very soon, where you will learn clear, actionable strategies to identify and profit from moves like this.

Find out more and secure your place by clicking here.

When this article was published, Michael was holding several long GBP positions. This article is opinion and is for informational purposes only. No information provided is intended as investment advice. We are not investment advisors. You should seek the advice of a licensed professional investment advisor for investment advice.