At FXStreet we’re always looking to offer the best objective information at one click for traders and professionals. For Brexit’s coverage, we provided breaking news, analysis, opinion pieces and more than 15 live coverages. And so we did anticipating Pound Sterling’s fall before the UK referendum was even announced.
Last Christmas, our contributor Omkar Godbole and, Gonçalo Moreira, Forex analyst and Content Advisor at FXStreet, warned us about it at GBP/USD Forecast 2016: BoE liftoff could be delayed, Bears could target 1.45-1.4280.
In words of Godbole, “the Brexit fears in H1, along with the delay in the BOE liftoff is likely to keep Sterling under pressure. We may be in for a serious fall if the markets focus on the worsening UK current account to GDP ratio. Sterling could target 1.3954 in this case”.
But it was Moreira‘s Point and Figure chart that had the best forecast: “The downside risk implied by two horizontal counts resulting from the consolidation formed since Spring 2015 is 1.3400 and well below the early 2009 low, 1.3000. No upside target is valid in this resolution, the reason being the bearish semi-catapult already breaking down on two occasions.”
Continue reading GBP/USD went down with Brexit and we very much anticipated so!