4 Reasons Brexıt was listed on the board of GBPUSD

4 Reasons Brexıt was listed on the board of GBPUSD

The trend has changed was written last year 

"On the way down there are a number of stations, the first of which lies the 1.3860 level Breaking this level 1.3860 will send the pair to cope with the level of 1.3570 "

sterling-dollar

 GBP/USD dropped to 30-year lows last week after the Brexit -The general population of Britain voted in favor of a British way out, or Brexit, from the EU in a notable referendum Thursday, June 23.
After the outcome, the pound tumbled to its most reduced level subsequent to 1985 and David Cameron resigned . 
The pound on Friday tumbled to its most reduced level subsequent since 1985 - sterling dropped to its most reduced level in 31 years on Friday, June 24th, after Britons voted to leave the European Union.

GBPUSD whipsawed for the duration of the night, ascending to a year high of $1.50 at one phase as surveys at first gave Remain the triumph
Britons voted 52-48 to choose to leave EU. The news shook the business sectors and sent Sterling to the least level against the dollar since 1985, in the greatest proceed onward record, took after just by the notorious Black Wednesday. 

gbpusd

So what should we expect for the future?
From looking at the charts we can see that the pattern and the bands should bring us more downside moves testing again the 1.33 area - break down 1.30 area  ,after that check 1.28 area and for the desert  gbpusd will meet 1.24 area for my opinion as long as gbpusd will remain below 1.4280-1.4360 

GBP USD chart

​

Don’t forget the connection between the cot position prices to GBPUSD, now we need to be focusing on the following charts –  we can see the behavior that occurs on the  long position increase while short are decrease, on this diagram we can see that its still not in extreme level - above 60%  ,if this will continue we could get much more room for downside there. 

gbpusd cot position

Final words:
From technical side on usdcad let's look at the charts:
On all my GBPUSD  posts  I was talked on the long term moves and try to Draw conclusions for the future on this pair , we got the bounce and now  my assumption is : scenario will be complicated and you need to be  ready for a lot of movements on the GBPUSD ,if 1..3860-1.3940 area will hold so the next target will be at 1.42-43  area and even higher to 1.50, from the other side break down again 1.32 will confirm more downside to 1.30 – once 1.28 break down this level will bring 1.24 area

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice