But Brexit, if we weren't negotiating Brexit I'd be Long on this pair, to not only go back to the highs of the pattern but, break the center line of the longterm monthly descending (yes ) channel, to continue to move back-up to the highs around 2.1.
This pair has rotated beautifully down this channel for more than 12 years, and since 2012 the pair found a smaller channel to trade within (yellow box - Point Of Control). There was one huge move to the upside of the channel, and a subsequent move down helped by Brexit, when it fell all the way back to the 1.6 Southern edge in late 2016 and the move off that low created the long-term upside move we're in now, straight back into the and two new , in black.
But maybe this is the first time we do not rotate back to the highs because, well Brexit. So we have two options, plan A or Plan B, PRETTY SIMPLE REALLY.
Fundamentals: Bank of England Interest rate announcement this week.
What are your thoughts?
Patience pays, happy hunting!
Look at 1.92 to be a stop, for this Intraday / well maybe until tomorrow, we're still inside this triangle, so expecting a move down from the top, if the Pound loses strength against the Kiwi