Gap lower on Monday/surge higher on Tuesday. Staying above the 38.2% of the range
On Monday, if you recall, the GBPUSD fell on weekend reports of hard Brexit in her speech on Tueday. That came to fruition but a combination of sell the rumor, buy the fact, AND some favorable technical breaks (and short covering and dollar weakness), sent the pair screaming higher on Tuesday. Yesterday was corrective with the pair retracing 38.2% of the move up.