The weekly chart of the cable reveals that yet again 1.4000 is doing it’s ‘YOU SHALL NOT PASS’ thing. BREXIT chatter on the headlines is turning everyone GBP bearish, for this very reason I believe a short squeeze is due. Couple that with those fancy lines I drew, over streched price and monster big weekly 2 bar reversal signal and you get yourself a trade. We might see a bit of a retrace we might not. Once price pops it would be looking at 1.4800-1.5000.
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