Brexit + No interest Hikes for GBP equates to more short selling

The British Pound has been taking a pounding (pardon the pun) in recent weeks.

Chart shown here indicates that if the trend line shown is broken then two targets are on indicated by the two areas marked on the charts. the reason for this is my understanding is the British Bank has ruled out an interest hike this year and with the European vote coming in soon playing on investors minds has given a bearish indication to the pound in recent weeks.

For more information, please sign up to my website which will soon contain a ton of great features for traders: www.ejfxtrading.com