FX:GBPUSD   British Pound / U.S. Dollar
GBP/USD is currently in a broadening wedge formation. On Friday, price retested the daily 200EMA and, again, was rejected. Next test of support will be the 13EMA (blue line) which I feel will hold.

I recommend staying out of the GBP market due to the Brexit outcome potentially being released this week. This market will be high volatility , high risk and high reward.

I'm not trading this market until a solid Brexit decision has been made.
Oct 16
Comment: Price tested the support level as expect and gave strong bullish pressure. The daily 200EMA will be the tipping point and first major resistance. I think a strong Brexit deal is what will take us past the resistance and give us a fresh bull move.

Be cautious as this market could swing wildly.


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