FX:GBPUSD British Pound/U.S. Dollar
monthly chart -- the Brexit spike moved from IV to V in the ending diagonal (see linked chart for pre-Brexit trade). Over the coming weeks, possibly months, I'll be watching for another gyration down to complete V of the ending diagonal. This is cable's long-term area of support (1.30x - 1.35x) which goes back many decades. I expect it to again find a floor there, and then head north. As usual with EDs, it's normal for wave V to extend beyond the bottom trendline.