Downward channel for a while. Potential breakout to start upward trend, but signs are weak. A wedge may be forming....
Fundamentally it's questionable now that the UK has left the EU whether this means the pound should get stronger after the uncertainty. However, having now left the EU, I still think traders are more bullish for the Euro for the meantime. So maybe there will be a small impulse to catch to the upside, although long term I expect the pound to strengthen. It's a tricky pair to trade right now.
Fundamentally it's questionable now that the UK has left the EU whether this means the pound should get stronger after the uncertainty. However, having now left the EU, I still think traders are more bullish for the Euro for the meantime. So maybe there will be a small impulse to catch to the upside, although long term I expect the pound to strengthen. It's a tricky pair to trade right now.