Short Positions

With respect to our downward channel we can see that price broke out of our trend-line but managed to close below the trend-line. This indicates that selling pressure has started and the bears are in control. We can also see that there are 3 touching points of the trend-line channel but we cant be sure if the price will breakout amid the Brexit woes. Will have to wait for more data to determine which direction the price will go, but for now we stick to what we can see.