The British pound remains in a downtrend for now- but appears to be transitioning to a sideways range from 1.305 to 1.335 Fundamentally what Trump says about a US trade deal (GBP negative) matters less than improved chance of a soft Brexit from new UK gov whitepaper (GBP positive)
Scenario A) Downtrend pauses -- Price rebounds from 1.305-1.31 support zone to target 1.33 resistance
Scenario B) Downtrend resumes - Price breaks 1.305 (June low) to target 1.28 (Aug '17 low)
Comment
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Scenario A) playing out nicely - 30 pips shy of 1.33
Trade closed: target reached
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Scenario A) worked, though careful MM needed to TP as price reached 10 pips shy of 1.33 before reversing back to entry point