Technical Trading Tips and Techniques by 
Consolidation near the long-term lows on the GBP/USD daily chart, as shown, has formed a rather distinctive broadening formation. These patterns, which are shaped much like megaphones facing towards the right, are not very common and can be difficult to trade. Some traders view a broadening formation as an opportunity to range trade the consolidation between the diverging lines. Other traders view these formations as possible reversal patterns at extreme price levels, preferring to trade the pattern breakout. In either case, there is very little in the way of obvious trading opportunities on this pair at the current, immediate juncture. More updates on this pair to come once clearer direction and technical levels are further clarified.
Interesting, I havent seen any information regarding fundamentals and change of price in GBP against USD if another rate cut from BOE occurs.
Hi Nick,
Thanks for your comment! On this blog, I tend to stick to the technicals almost exclusively. Of course, fundamentals are extremely important. But again, the focus here is on the technicals. Thanks, Nick!
James Chen