GBP/USD Preparing For The Next Big Move

The pair now sits trades in a sideways range and a triangle structure has formed around price action. We now await a break of the triangle or clear indication of a break to determine our next trade.

I suspect a break to the downside is the more likely outcome given the massive pressure on sterling due to the Brexit opposition now featuring prominent members of the UK cabinet backing an exit thus adding to the uncertainty of which side will dominate the referendum.