Much has been made in the British press about $FTSE running inversely to $GBPUSD because it is in reality a USD index. Certainly the path is much clearer in USD. To trade this, you have to buy $FTSE and sell $GBPUSD to create a synthetic.
This fractal actually suggests that the FTSE (in USD) may have bottomed for now and may rise. You would have to synthesise it by buying FTSE selling GBPUSD, or you can use US ETF $EWU.
In the Brexit spike, the fat finger spike, and the Trump spike, in each case we got around 61.8% retracement before a further fall. However, if you overlay Aug-Oct 16 price action to now, it gives a clear fit to Trump action, suggest a further fall (in USD).
This is one of my wilder hypotheses, btw
