All right friends.

Now that we have the power of Gann swing charts with us,
let's take a look at GBPAUD weekly trend .
The trend according to the swing chat is up.
Is it smart to short it then?
Let's analyze this, shall we?
Gann said that the safest place to buy is on the first higher swing bottom,
and the safest place to sell is at the first lower swing top.

On the weekly GBPAUD 3 weeks ago we had confirmed 1st higher swing bottom.
This points to higher prices on GBPAUD.
The last swing range from the bottom up was 584 pips.
Currently the range up to the last week top is 570 pips, almost 100% of the previous range.
This means we may be due for a pullback.
The last pullback of 584 pips range was 353 pips.
That is 60%, not quite 62.5% but close enough.
If we have the same pullback this time we would get 342 pips on the way down
That would give us a target of 1.9020 low.
If we get a 50% pullback that would take us to 1.9078 low.
After a 50% pullback a 100% range up would take us to 1.9635, some 557 pips.
A 100% range from 62.5% pullback would give us a 100% range up to 1.9560.

Now that we have our price targets let's see what happens.