Technical Market Overview:
The GBP/USD pair is being emotional driven by the Brexit news, so it makes a wild swing up on down based on hope or fear. Just two days ago the shoot up was impressive as it touched 1.3258 - 1.3304 zone, but then suddenly the price dropped down again to test the trend line and stay in the middle of the zone for the most of the day. Yesterday a similar situation happened after the vote in the UK Parliament was made and even a new local high was made at the level of 1.3379, but then the price back down again towards the level of 1.3258. A Pin Bar candle was made and now the bulls might try to test the recent high again.
Weekly Pivot Points:
WR3 - 1.3385
WR2 - 1.3316
WR1 - 1.3123
Weekly Pivot - 1.3053
WS1 - 1.2856
WS2 - 1.2781
WS3 - 1.2654
Trading Recommendations:
The emotion-driven market is not good for trading as it makes wild swings that do not respect the support/resistance levels and so on. No new trades should be opened now as there is no trading setup present. Stay aside for a while and wait for the breakout.
