GBP index did crash since Mis May announced her resignation, why?
Fear escalated that UK will get out with NO DEAL, as she was not very successful in securing a deal with MPs in the UK Parliament...
Mr. Borsi is most likely to be next PM, fear he will try to get out with no deal had a heavy weight on depreciation of the GBP
MPs agreed by majority on a paper to make it hard for next PM to get out without a deal, this should decrease the fear of NO deal.
NOW, there is no reasonable explanation for the GBP to continue to fall from this coming week except big banks and players are making more money by driving price down, under value the GBP, then will take off while they did buy tons of it at very cheap price.
SELLING here is not a very wise choice, unless we sell small time frames, Also a confirmed buy signal is not there yet, we should watch it to have more good news and start going long,
With a reversal hammer forming from yearly lows. I take that as a decent enough bottom for now. Only way is up :D because as Prime minister boris 'Business allegiance' Johnson will switch his tune to maintain Theresa May's deal with some tweaks. It all depends on his inaugaration on tuesday or wednesday in what he says. The recovery is way more likely then more downside due to its aggressive fall since may. Great setup and good luck mate!