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The pound enjoyed a rally on hopes for a soft Brexit, but the level of uncertainty is extremely elevated with the government not revealing its cards. The discussion in the Supreme Court should not alter the path of triggering Article 50. We also examined the economy. So far, it looks really great, with high employment, strong retail sales and optimism. However, it may have peaked. GBP/USD peaked under the initial post-Brexit high.

Video update on GBP/USD: