EU chief Barnier settled markets with a 6-8 week window for a Brexit settlement. The Euros reaction was to selloff as panic in the Pound receded. Now a channel has formed, and there is a possibility for a reversal pattern which will keep the short-term rally moving higher. Any harmful noise from the conservatives in the UK may have a bearish impact on the Pound.
If the Barnier Brexit story maintains forefront on the market's mind, the selloff may continue into the longer-term trendline.
If the Barnier Brexit story maintains forefront on the market's mind, the selloff may continue into the longer-term trendline.