Here is the setup: UK Prime Minister May scheduled to do a 2017 “look ahead” interview with Sky News.
A. If she does not soften her “non negotiable” position on immigration GBPUSD will go down, probably sharply
B. If she does soften her “non-negotiable” position on immigration GBPUSD will go up, possibly sharply
Trigger for trade is the outcome of her immigration position; she remains “non-negotiable”
A. GBPUSD declined sharply
Here is how I presented it in my weekly publication:
Here is the chart following the GBPUSD fundamentally bearish UK news