In our last article, we looked at the bull flag formation that had built in GBP/USD, highlighting the potential for a deeper retracement. The bullish theme in the British Pound really came to life in early-September when the Bank of England warned that rate hikes may be on the horizon. In short order, GBP/USD shot above 1.3600 after having toiled in the 1.27’s not a month earlier, and we focused-in on an area of support around 1.3478. This is the 50% retracement of the ‘Brexit move’ in the pair, and for a week, this held the lows in Cable. But as prices started to slide below that Fibonacci level, the bull flag ... (full story)