DavidBelleFX

Could the Brexit vote have been predicted?

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
229 0 7
Take a look at the chart. The market started to price in the leave vote back in May 2015. We formed a head and shoulders pattern which had developed over many years with the right shoulder coming into play when the Queen announced the EU Referendum Bill. It then played out like a standard HS pattern. Obviously there could have been another scenario play out, but on a higher time frame, head and shoulders patterns tend to play out a lot of the time as they show the psychology of the market over a long time period, and buying/selling exhaustion.

Just something to spot.
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