This pair has come to a critical level in its pursuit to fill the 'gap' created the week after Brexit. Two scenarios here and we will probably wait until after the decision to enter as we will know more. From a text book point of view we do have some bullish indications, namely a double bottom and bullish engulfing candle on 1.28510. Due to the fundamentals going on we are still BEARISH
I expect the price to consolidate untill the decision. Hopefully we get a signal to go short. A break of the 2 hour 50 ema could be that signal
Doublebullchuck
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I completely agree with you. My question is why 2 hour 50 ema. History shows that this location as support resistance. I like the 50% zone and likely 61.8. If GBP cuts will GBP tank? If it doesn't cut will it rise. All this talk of cutting yesterday maybe just a bunch of b.s.