Since last Thursday GBPUSD has been moving up. Such situation was caused by Brexit vote. Last week the price dynamically returned from 1.4100 support and it tested six months high. Today finally GBPUSD has crashed through resistance at 1.4700 and the price has reached new high of 2016.
Current weekly candle is huge, however two facts have to be noted. First danger for the bulls is the result of the Brexit vote. Second danger is current resistance. The price has reached 1.4870 – 1.4920 area and this level was important in 2013. Technically on this area the rebound should occur or at least consolidation. Hovewer, Brexit is such important and unpredictable issue that even breakout of 1.4870 level is likely right now.
