[GBPUSD] SPECULATIVE SETUP

Simple bearish setup on AB-CD pattern. Use reduced size for this trade.

As shown on the monthly chart, the pair has already achieved our bullish target correctly.

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Trade closed: target reached:

TARGET 1 HIT!

Comment:

...trend still bearish on intraday chart

Trade closed: target reached:

TARGET 2 HIT!

Comment:

trend is still bearish

Comment:

Prime Minister Theresa May’s team is eyeing up a contingency plan to hold back billions of pounds in Brexit payments, if the European Union refuses to give the U.K. the trade deal it wants.
Senior British officials have privately discussed the idea as a fall-back option that could be triggered if negotiations go wrong, three people familiar with the matter said.
Prime Minister Theresa MayPhotographer: Jack Taylor/Getty Images
The plan is not the U.K.’s preferred outcome, but some in May’s administration believe it could be necessary in case the EU tries to renege on a future commitment to a free-trade deal.
The proposal comes at a sensitive time, with British ministers seeking in public to build mutual trust with the EU rather than stoke suspicions. The U.K. is trying to persuade the bloc to cooperate on plans for an ambitious trade agreement, which will come into force after the split.

Comment:

interesting swing on the pair ...