Following the post-Brexit rally that launched EURGBP higher by more than 1,000 pips, the currency cross has found itself trading sideways for the last two weeks. Within the sideways price action since July 13th, we can see that a wedge has formed. The upper level extends from the July 14th high while the lower boundary extends from the June 29th low. Most often, a wedge that develops after an extended move signals a continuation of the prevailing trend. However, there is one thing about the structure below that doesn’t fit the mold. The rounded top that formed between late June and mid-July is a sign of potential ... (full story)