big scary triangle in GBPUSD

This looks like a perfect picture of the uncertainty about Brexit. Watch out for a break either way for some pips. I'm biased to the short side because of fundamental strength in the dollar. Watching out for those Fed Minutes and the vote in Parliament.

Comment:

we did in fact break up and could've caught some pips. I didn't take the trade since I thought it was a fake-out due to anticipation to GDP as you can see in the comments. After GDP we got back into the triangle and expanded. I'm still biased down, due to UK's relative weakness to the US'. Still following the triangle, waiting for a break to grab some pips.

Updated and expanded triangle:

Trade closed: target reached:

Nailed it.