Brexit And Crash In The British Pound… How Low Will GBPUSD Go?

Brexit fears and the EU Referendum have caused a significant fall in the British Pound (GBPUSD). But how much lower can the British currency go?

In this video we will take a look at our next potential targets on the British Pound:

The Elliott Wave targets on the GBPUSD seem to indicate further downside to possible sideways action. Rallies to resistance can be shorted as shown above.

We wait to see if we can break and close below the 1.41 support at the January lows. If this occurs, we will look to short pullbacks with targets lower at 1.40, 1.37 and ultimately the long term target at 1.35.

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