Brexit Vote to determine if GBPUSD downtrend resumes

The break below previous support at 1.32 amid a strong downtrend signals lower prices

Two possible scenarios after today's vote in UK parliament over Brexit
A) former support at 1.32 is resistance and downtrend resumes toward 1.305
B) price closes back above 1.32 signalling a rangebound market and an eventual re-test of 1.347

Nota

Scenario A) in play -- 1.32 held as resistance, GBP making fresh 7-month lows
Next up: BOE

Nota

Back over to scenario B) - looking at potential for big weekly reversal with false break below 1.32 and a close back above in a bullish signal

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Bearish trend in tact but hard to keep open positions because very choppy

jasperlawler

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jasperlawler