gbp strange behaviour
Nothing strange here.
GBP/JPY is climbing back to all time highs, or to its Exchange Rate Mechanism (ERM) levels, before the British Government announced the exit of the Pound from the ERM on Black Wednesday, September 16 1992, after speculators, George Soros amongst them, sold huge billions of Pounds. Soros (The man who broke the Bank of England 
) made GBP 1 billion during this episode. GBP/JPY hit 8 year 5 month highs o 240.85-90, its highest level since August 11 1998 highs of 240.91. A break of 240.91- or 241.00 will send GBP/JPY to its levels when GBP was in ERM - to its highest level in 14 years and 4 months high since Sept 11 1992, when it was at 245.15. The GBP/JPY subsequently plunged from 233.03 to 222.48 on Black Wednesday when the Pound exited the ERM.
Barriers at 241?
Forecast?
I entered GBP/USD long @ 1.9870, target 2.0150, trailing stop 125 pips.
