From a technical standpoint, the EURGBP post-Brexit rally was a momentous event. Not just because of the 520 pips gained in a single session, which is a rarity for the cross, but because it broke an eight-year pattern. The monthly chart below illustrates the descending channel, which could very well be a multi-year bull flag pattern. Of course, a pullback is only natural after a 1,600 pip move. But the price action over the last two months has been a bit hard to read at times, at least without seeing the structure below. What may have seemed like directionless and even disorderly movement was, in fact, an upward ... (full story)