As we recall, far back as the day on September 16, 1992 termed the Black Wednesday; when the British Conservative government withdrew the Pound Sterling from the European Rate Mechanism led by John Majors. Which then proves to be the right and well calculated decision. Although, the end-result was a huge drop of the GBPUSD in a single weeks move thereafter coming from a 2.1080 high.
In comparison from the low prices of CABLE today, the current price levels for the GBPUSD to sustain its initial strength slightly favoring the 'Remain' camp with intra-day corrective moves between its average true range and the HI/LO band will really depend on the actual vote which is too close for comfort.
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CONTRARIAN Market Approach for CABLE
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