Our GBP/JPY and GBP/CHF forecast based on our calculation matrix, which has quite a success rate especially in the medium to long term horizon, may be pointing to a British exit from European Union.

It is the same matrix that gave a short call in Dollar/Yen pair at 118 area, with targets around 98, which we later extended to 90. That call is already 1250 pips in the money and was only 750 pips away from our 98 target, just few days back. You can check that call here - http://www.econotimes.com/FxWirePro-Long-term-outlook-%E2%80%93-Yen-could-rise-to-98-per-Dollar-148114

It is the same matrix that generated a call to sell Pound against Yen around 168 with target around 121. While we expected Yen to rise, but that couldn’t justify Pound’s such drop to Yen. You can check that call here - http://www.econotimes.com/FxWirePro-Long-term-outlook-%E2%80%93-Pound-might-drop-to-121-against-Yen-149460

Again today, the same matric generated a call to Sell Pound against Franc at 1.4 with target around 1.24 area, again a large move against safe haven currency. You can check the call here - http://www.econotimes.com/FxWirePro-medium-term-outlook-Pound-may-drop-to-124-against-Franc-204959

While there are number of factors that may push these pair to such levels such as extreme risk aversion or China hard landing, we can’t just ignore that such one is coming next month which is British referendum over EU, which would be sufficient for these pairs to reach forecasted levels.

However, we are noting that other two key major, GBP/USD and EUR/GBP yet not pointing to such move, hence the use of ‘may’.