Trading GBPUSD in the Post-Brexit World

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The market continues to move within the bullish yellow and green channels.

It is likely that now we see a smooth growth of the market in the direction of the nearest resistance level of 1.335, which is on the upper wall of the green channel. After the break of this level, the way will be opened for the bulls in the direction of the next important resistance level of 1.395, which is on the upper bound of the yellow channel.

In this situation, it is necessary to consider an alternative scenario, according to which, after the price rises to 1.335, it is possible to rebound and decline to the lower yellow bound and support of 1.308. An approximate scheme of both options for possible future movement is shown on the chart.


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