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  • GBP/USD in a Brexit headline chop with a discount on the cards for bears. 
  • The 15-min chart displays a potential selling opportunity. 

GBP/USD is in a chop but could be about to pull in further offers to complete a downside extension to prior resistance turning support structure. 

15-min chart

As illi=ustrated, the price is now testing a critical resistance area and has left a wick on the downside.

On the lower time frames,c such as the 5-min, this wick merely represents a bullish correction from which failures beyond 1.3580 could result in further selling pressures. 

If the bulls capitulate, then there are prospects of a downside correction to the 1.3530/40 support. 

5-min chart