The US dollar was the best performer this week while the pound lagged. Most of the gains came today after a significant retracement. The kiwi, euro and Swiss franc were also significant underperformers.
FX weekly changes
Technically, cable looks weak. After two weeks of dojis around the referendum, the pair has resolved to the downside and easily cut through 1.6000 to the lowest levels since November today.
There is some support in the 1.5900 to 1.5830 zone. That`s followed by support at the 61.8% retracement for the rally over the last year.
cable weekly chart
I think there is a case for buying the pound, but not against the US dollar.
