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Friday, 24 June 2016

GBP/USD: BREXIT down-spike to recover partially

Amazingly, Britain has voted to leave the EU, bringing the anticipated down-spike in the security (and the world-wide markets).

What happens next? Answer: Nothing.

All the trade agreements and border controls remain the same for at least the next two years.

Nothing - except the uncertainty as to the future.

As the British Pound was already undervalued, there should, in the next few days, be a partial recovery from the down-spike, followed by a crawl back into my yellow box.

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