GBP/USD in knockout after Brexit
There was a strong move on Friday. At the day of British referendum GBP/USD lost more than 17 figures. Trading started in the 1.4850 area and within an hour the pair renewed highs at 1.5020. Then, however, there was a sharp selloff and increase in volatility. During the Asian session the pair slumped to 1.3220.
On H4 all lines of the indicator went down, but the following pullback evened the situation and now the lines are horizontal. The pair will likely keep trading near the lows. When the morning gap is closed, the decline may continue.
Technical levels: support – 1.3375; resistance – 1.3600.
Trade recommendation: out of the market.