GBPUSD bottoming (US trade deal matters less than soft Brexit)
British Pound / U.S. Dollar FOREXCOM:GBPUSD
The British pound remains in a downtrend for now- but appears to be transitioning to a sideways range from 1.305 to 1.335
Fundamentally what Trump says about a US trade deal (GBP negative) matters less than improved chance of a soft Brexit from new UK gov whitepaper (GBP positive)
Scenario A) Downtrend pauses — Price rebounds from 1.305-1.31 support zone to target 1.33 resistance
Scenario B) Downtrend resumes – Price breaks 1.305 (June low) to target 1.28 (Aug ’17 low)