Looking at the longer term analysis of this pair and subsequent "noise" coming from Mr Carney of the Bank of England and somewhat confusing responses, "The biggest challenge, and opportunity, for the country is the Brexit negotiations", Mark Carney replies. Well I agree Mr Carney, the biggest challenge and opportunity on this pair, is working out which way it will go to make a profit, yes exactly, it means he has no idea, like the rest of us, but technicals work.
The market had a response of a quick sell-off on the £, not too aggressive, but thanks for the profits on that one, it was expected, I therefore expect a somewhat negative response to many of the £ pair for the short term, until the bears realise that the £ is super cheap and it's time to bail back in.
There is a divergance on long term volume, the pair is below the moving average and at the bottom of the channel, so it won't be too long to find out if we're heading down to 147 and then I expect a rocket back up to the highs, wait for signal before posting your trade.
What are your thoughts on this?