GBP/USD: Range established, more Brexit volatility eyed

I am not going to extend too long on the Sterling analysis as erratic volatility looks set to still dominate. On the hourly, the market has carved out a range between 1.2887 and 1.3037, which makes the mid-point at 1.2962. Look for clues around these levels, especially at the edges of the range for maximum risk-reward exposure. Note, the tick volume indicates back-to-back smart money acceleration moves as per the increase in price updates activity. Heading into early Europe, it looks as though the upside might be threatened given the failure to rotate by sell-side accounts off 1.3037.