Just about three weeks ago, I wrote here that we had found a bottom and the GBP/USD would begin moving up to around 1.4800 to 1.5000. After the bottom was confirmed, I wrote here that, “Getting more specific, we are currently targeting the zone from 1.4780 to 1.5060.”
Well on June 2nd, as you can see in the chart below, the GBP/USD pretty much hit the 1.4780 target by moving up to 1.4769. (11 pips away from what I had forecasted) When I began writing about the bottom the GBP/USD had formed almost three weeks ago, around 1.4300, you were able to enter anywhere from 1.4300 to 1.4450. That’s a nice 250-450 PIPs, depending where you entered and exited.
Now that it has retraced a bit to a strong level of support, it will begin its movement up toward 1.5000.

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