The pair is currently trading at 2 1/2 year lows and while there is enough momentum making me believe it would blow past through those levels I do see some upside room for the next couple of weeks. Brexit of course still looms with the deadline being the 31st of October but the case for that is still open for interpretation as noone really knows what kind of effect the outcome is going to have on the GBP.
For the time being I see an upside target in the 1.3100s with an extended target up in the 1.4200s as we come down to the lows potentially initiating a 2x bottom formation.
Stay tuned for the updates!
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