GBP/USD - Short; SELL it here.

This is an ever so slightly lesser short than the EUR/USD on the long run but for now it's all the same on these levels. (GB isn't "dying" - i.e. committing suicide - at the same vigorous pace as the EU nor is it tied to that Titanic. Also, the US-GB trade zone's significance is bound to gain steam in the very near future.)
The technical picture ought to be self explanatory.


as for the long term EUR/GBP relationship;

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p.s. The Brits are many things but stupid - on balance - they are not!
A few archeologists even discovered traces of an Empire, they once had. (... which Churchill managed to blow up with remarkable ease, ironically while trying "to preserve it". Good job!)
GB leaving the EU was the obvious as well as an existential step which soon no one will be able to deny! Simultaneously, Britain turning (almost exclusively as far as meaningful alliances go) to N. America is about the best placed bet under the circumstances.
... which is bound to happen to a country where history is taught and where the majority of the population is functionally literate. (The same could not be uniformly stated for the majority - and meaningfully fascist - EU, where the member states managed to go 0-2, every time they fielded their Dream Team. No wonder that, true to form, they are now clutch for 0-3!)

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Here is a fair chance for a +200 pip bounce (Long).
Just be advised - no loading up on it, though!

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Long Setup
Looking to buy it up, here ...

... as indicated in the chart. (Provided that it plays out)
- It'd stand the reason for a rally toward 1.2500, given all those stops at 1.2450-1.2480

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"History doesn't repeat itself but it often rimes."
Some food for thought;
This ...

... may just play out like the one below -, one would hope . (Made the first Million $, and then some. Still my best trade ever - being "all in", and all. :-)

Sure, the GBP/USD shows up only on the 240 min chart (as opposed to on the daily) but play it right ...

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This pair is poised for a +300 pip Upside run, from here, ...

... gunning for all those topside stops just under 1.2500, before the final down turn.
Long

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This drop was caught exactly by the previous major low.

E.g. This is still a Long Bias above 1.1990.

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Decidedly back to Short - 1.1850 first target;

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As for any doubt, which is weaker vs. the USD, the Euro or the GBP ...

... sure, the Pound is in a major dive! - But nothing like what is ahead for the Euro!
E.g. ALL Euro pairs are an even stronger Short than their GBP counter-parts.

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This pair is clearly at the cross roads here.

It may be somewhat difficult to see it from this ...

... but ...

... This version of the same thing may provide a clearer picture;

The C.O.T. continues to indicate a Long Bias and other GBP crosses seem to confirm, overall pointing to a potential top-side blow-off before the GBP/USD is to take it's final dive.
For right now, this is a wait-and-see but which should become directional, rather soon, for the minor trend.

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The DXY had been reliably humming according to the numbers;

(While heavy Euro over-weight) It clearly concurs with the above upside bias case for the GBP/USD .

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Buy it up!

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I forgot to include - above - the updated chart for this trade.

Omission corrected.

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As for the GBP vs the Euro situation, fear not!

... as from here, virtually nothing but GBP strength is expected.

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BTW ...

That Stop Hunt at 1.1989 is likely to be hit! (E.g, set Stops just accordingly.)

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Something like this ...

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Loaded up (added to those LONGs) on that brekout here - LONG

Don't chase, though! There should be a pull back, soon.

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