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.